The Role of Desicion Making Processes in the Correlation between Wealth and Health

J. Binswanger, K.G. Carman

Research output: Working paperDiscussion paperOther research output

263 Downloads (Pure)

Abstract

There are many pathways explaining the relationship between socioeconomic status and health; one possibility is that some normally unobservable characteristic causes people to invest both in their financial well-being and their health. Here we consider the possibility that the decision making processes are similar across domains and that the steps individuals take to make decisions can help to explain the correlation in outcomes across domains. We focus particularly on retirement savings decisions and decisions in the health domain. Choices in both domains have long-term consequences and therefore require foresight and the ability to process complex information. Our results suggest that up to 44% of the correlation between wealth and health is due to the processes that people use to make these choices.
Original languageEnglish
Place of PublicationTilburg
PublisherEconomics
Volume2011-005
Publication statusPublished - 2011

Publication series

NameCentER Discussion Paper
Volume2011-005

Keywords

  • Health
  • Wealth
  • Decision Making

Fingerprint Dive into the research topics of 'The Role of Desicion Making Processes in the Correlation between Wealth and Health'. Together they form a unique fingerprint.

Cite this