Domestic/international perspectives on well-being at older ages
Perspectives on well-being at older ages, emphasizes life-cycle decision-making and old-age financial security and their interactions with changing work patterns, family support, savings and pensions, health insurance, and health care systems. This line of research has been one of the hallmarks of PARC. An organic cluster of economists and health economists with appointments in Economics, Wharton, the School of Medicine, and the Leonard Davis Institute (LDI) of Health Economics form the research core of this theme. Their research links ʺmid-and late life well-being to financial resources of individuals and the institutions affecting their accumulation.ʺ Chao and Pauly, for example, carried out a longitudinal study of the relationship between health and small business entrepreneurship in townships around Durban, South Africa. One of Volpp’s lines of research, focuses on experimental incentives to modify poor health behaviors, such as smoking. is the co-PI and current director of the Penn-CMU P30 Roybal Center for Translational Research on Aging in the Department of Medicine and was a recipient of a PARC pilot, “Financial Incentives for Weight Loss,” which contributed data for a funded follow-up R01 grant proposal (R01AG043844). Cunha (Economics) and Mitchell (Wharton) complete the cluster for this theme. Mitchell’s analyses on how financial literacy affects the retirement option and thus well-being of aging populations have been central to this theme.