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Living Large or Long: Preference Estimates from Completed-Life Stories

Seminar

Series: LISER Research Seminar

English

Living Large or Long: Preference Estimates from Completed-Life Stories

When:

MON, 2 FEB 2026

From:

2:00 PM

To:

3:30 PM

Where:

Hybrid

Living Large or Long: Preference Estimates from Completed-Life Stories

Joint work with Amitabh Chandra, Erzo F.P. Luttmer, and Joshua Schwartzstein.

The value people attach to longevity increases is an important input to policy decisions on health care, the environment, and safety regulations. This value is typically estimated based on compensating differentials for taking on very small risks of death. We instead estimate this value by letting people choose between completed life stories in which life-time income and longevity is randomized. We present a battery of tests to gauge whether these hypothetical choices measure underlying preferences. The benefit of our method is that it does not require people to correctly evaluate very small probabilities, yields estimates of the distribution of preferences for longevity in a representative population, and allows for a characterization of heterogeneity in preferences by respondent characteristics.

The FLARE Research Lecture Series on Contemporary Challenges is supported by the Luxembourg National Research Fund (19466989).

Speaker

Tomáš Jagelka

University of Bonn

Tomáš Jagelka is an applied microeconometrician in the fields of labor economics and health economics with interests in structural estimation, experimental, and behavioral methods. He was awarded a €1.5 Million ERC Starting Grant for his project "FELICITAS" to study essential preferences, skills, and other personal attributes which matter for a good life. His aim is to provide knowledge which enables policymakers to design effective policies for equalizing opportunities.

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