An economic heory of depression and its impact on health behavior and longevity

No 337, University of Göttingen Working Papers in Economics from University of Goettingen, Department of Economics

Abstract: In this paper, I introduce depression to the economics of human health and aging. Based on studies from happiness research, depression is conceptualized as a drastic loss of utility and value of life (life satisfaction) for unchanged fundamentals. The model is used to explain how untreated depression leads to unhealthy behavior and adverse health outcomes: depressed individuals are predicted to save less, invest less in their health, consume more unhealthy goods, and exercise less. As a result, they age faster and die earlier than non-depressed individuals. I calibrate the model for an average American and discus the socioeconomic gradient of health and depression as well as the hump-shaped association of antidepressant use with age. Delays in treatment for depression in young adulthood are predicted to have significant repercussions on late-life health outcomes and longevity.

Keywords: depression; depression therapy; health behavior; aging; longevity (search for similar items in EconPapers)
JEL-codes: D15 D91 I10 I12 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-age and nep-hea
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Related works:
Journal Article: An economic theory of depression and its impact on health behavior and longevity (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cegedp:337

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