Stability of Preference against Aging and Health Shocks: A comparison between Japan and the United States
AbstractThis study explores stability of preference against aging and health shocks. Contrary to a vast amount of literature assuming that risk attitude is unchanged over time, we utilize JSTAR (Japanese Study of Aging and Retirement), which provides longitudinal data on the middle aged and elderly comparable with the Health and Retirement Study (HRS)/English Longitudinal Study of Ageing (ELSA)/Survey of Health, Ageing and Retirement in Europe (SHARE), to examine how aging and past health experiences systematically affect risk attitude. We find that while there is empirical evidence that aging gradually causes individuals to be more risk averse, health shocks do not seem to affect risk preference systematically.
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Bibliographic InfoPaper provided by Research Institute of Economy, Trade and Industry (RIETI) in its series Discussion papers with number 13068.
Length: 45 pages
Date of creation: Aug 2013
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-AGE-2013-08-23 (Economics of Ageing)
- NEP-ALL-2013-08-23 (All new papers)
- NEP-DEM-2013-08-23 (Demographic Economics)
- NEP-HEA-2013-08-23 (Health Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Discussion Papers in Economics and Business
09-15, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- #HEJC papers for September 2013
by academichealtheconomists in The Academic Health Economists' Blog on 2013-08-31 23:01:38
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