Optimal Expectations and Limited Medical Testing: Evidence from Huntington Disease: Corrigendum
In: American economic review, Band 106, Heft 6, S. 1562-1565
ISSN: 1944-7981
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In: American economic review, Band 106, Heft 6, S. 1562-1565
ISSN: 1944-7981
In: American economic review, Band 103, Heft 5, S. 1977-2002
ISSN: 1944-7981
Human capital theory predicts that life expectancy will impact human capital attainment. We estimate this relationship using variation in life expectancy driven by Huntington disease, an inherited neurological disorder. We compare investments for individuals who have ex-ante identical risks of HD but differ in disease realization. Individuals with the HD mutation complete less education and job training. The elasticity of demand for college attendance with respect to life expectancy is around 1.0. We relate this to cross-country and over-time differences in education. We use smoking and cancer screening data to test the corollary that health capital responds to life expectancy. (JEL I11, I12, I20, I31, J24)
In: American economic review, Band 103, Heft 2, S. 804-830
ISSN: 1944-7981
We use novel data to study genetic testing among individuals at risk for Huntington disease (HD), a hereditary disease with limited life expectancy. Although genetic testing is perfectly predictive and carries little economic cost, presymptomatic testing is rare. Testing rates increase with increases in ex ante risk of having HD. Untested individuals express optimistic beliefs about their health and make decisions (e.g., retirement) as if they do not have HD, even though individuals with confirmed HD behave differently. We suggest that these facts can be reconciled by an optimal expectations model (Brunnermeier and Parker 2005). (JEL D84, I12)
In: NBER Working Paper No. w17931
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In: NBER Working Paper No. w17629
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In: NBER Working Paper No. w15326
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