What Good Is Wealth Without Health? The Effect of Health on the Marginal Utility of Consumption

Amy Finkelstein, Erzo F.P. Luttmer, Matthew J. Notowidigdo

NBER Working Paper No. 14089
Issued in June 2008

---- Acknowledgements -----

We are grateful to Raj Chetty, David Cutler, Jean-Paul L'Huillier, Erik Hurst, Olivia Mitchell, Jim Poterba, Ivan Werning, Justin Wolfers, seminar participants at the MIT Public Finance lunch, the Kennedy School faculty lunch, Wharton, the Chicago Fed, the Harvard/MIT/BU Health Seminar, the NBER Summer Institute, Toronto, Columbia, Dartmouth, the Harris School, the AEA meetings, Berkeley, and Urbana-Champaign for helpful comments, and to James Wang for excellent research assistance. This research was supported by the U.S. Social Security Administration through grant #10-P-98363-1-05 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The findings and conclusions expressed are solely those of the authors and do not represent the views of SSA, any agency of the Federal Government, or the NBER. All errors are our own.

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