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北京大学国家发展研究院

[5月13日]发展经济学和劳动经济学workshop

发布日期：2015-05-13 01:44    来源：北京大学国家发展研究院

发展经济学和劳动经济学workshop   讲座时间：5月13日（星期三）下午2:00-3:30 讲座地点：国家发展研究院小教室 主讲人： Kathleen McGarry，Professor of Economics, UCLA   Heterogeneity in State-Dependent Utility: Evidence from Strategic Surveys   Jeffrey R. Brown, Gopi Shah Goda and Kathleen McGarry   A standard result of life-cycle models under uncertainty is that optimizing individuals will equate the expected marginal utility of consumption across various states of the world. A small empirical literature has suggested that the marginal utility of consumption may be lower in less healthy states. This paper uses a novel survey-based measure to document significant heterogeneity in health-state dependence across the population that is largely orthogonal to standard demographic controls. We further show evidence of differences in state-dependence between cognitive and physical impairments, as well as differences related to the stage of life at which the health shock occurs.


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