A life well spent: Consume now (in case you die early)

You only live once. Carpe diem. You can't take it with you. As often as we hear these clichés, they might include some real economic wisdom for some, according to research led by Princeton University's Woodrow Wilson School. The researchers argue in the Journal of Mathematical Economics that some people might want to spend more and work less – just in case their time runs out.

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