The Cost of Uncertain Life Span

Ryan D. Edwards

NBER Working Paper No. 14093
Issued in June 2008
NBER Program(s):   AG    EFG    HE

The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.

---- Abstract -----

A considerable amount of uncertainty surrounds life expectancy at birth, the average length of life. The standard deviation in adult life spans is about 15 years in the U.S., and theory and evidence suggest it is costly. In this paper, I calibrate a standard intertemporal model to show that one less year in standard deviation is worth about half a mean life year. Differences in the standard deviation amplify measured differences in life expectancy between the U.S. and other industrialized countries, and accounting for historical gains against the standard deviation raises the total value of mortality declines during the last century by about 25 percent.

Would you like an annual subscription to NBER Working Papers? Click here for more information.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.
Information for subscribers and others expecting no-cost downloads

Machine-readable bibliographic record - MARC, RIS, BibTeX

 

 
Publications:
Main Publications Page
 
New This Week
Working Papers
Books              
Books in Progress
Older Books Online
Digest            
Reporter            
Bulletin on Aging & Health
Historical Bulletins
Free Subscriptions
Paid Subscriptions
 
Research:
Program descriptions and members
 
Working Group Descriptions and Papers
 
Selected Projects:
Conference on Research in Income and Wealth
Conference on Econometrics and Mathematical Economics
Sloan Science and Engineering Workforce Project
Boston Census Research Data Center
 
Call for Papers
Submit to WP Series             
 
Data:
NBER Collection
Business Cycle Dates
Latest Business Cycle Memo
New Economic Releases
Selected Sources
Current Population Survey
Economic Organizations
US Government Agencies
Other Data Collections

Economic Report of the President
Economic Indicators
Congressional Budget Office
OECD Frequently Requested Statistics
 
About
What we are
Contact us
Non-data Links    
Search              
Site Map
Help              
Employment              
Fellowships
Early History
 
People:
Staff
Researchers
Board
Contact Us
Search
 
Search via Google: