Empirical studies of health-related expectations and behaviors

This thesis is a collection of empirical studies on health-related expectations and behaviors. Part 1 examines expectations of important later-life events – retirement and nursing home admission. These expectations may influence saving and insurance decisions, with consequences for well-being in old age and at other points in the life cycle. Part 2 investigates health behaviors, including smoking, drinking and sleeping. These behaviors influence future health and may also impact later economic outcomes, such as education and retirement.

The thesis shows that individuals, particularly the least educated and the least cognitively able, hold inaccurate expectations about health and ageing, which can adversely impact their behavior and outcomes in old age. It also shows that various health behaviors, likely influenced by the (possibly also inaccurate) perceived risks of engaging in them, contribute to health inequalities and hinder human capital formation. Overall, this thesis contributes to two mostly separate strands of the economics literature, but shows important connections that merit more attention.’