A life well spent: Consume now (in case you die early)
Tuesday, June 10, 2014 - 12:12
in Mathematics & Economics
An early death constitutes a serious loss that should imply compensation to the deceased person. But how – when the person is dead? A team of economists led by Princeton University's Woodrow Wilson School argues that a 'life well spent' might entail consuming more and working less earlier in life. They construct a mathematical model to measure the economic losses associated with an early death.