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11 - Ageing and Caregiving Decisions Over Time

Published online by Cambridge University Press:  18 May 2023

Joan Costa-Font ,
Tony Hockley  and
Caroline Rudisill
Joan Costa-Font
Affiliation:
London School of Economics and Political Science
Tony Hockley
Affiliation:
London School of Economics and Political Science
Caroline Rudisill
Affiliation:
University of South Carolina
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Summary

This chapter discusses how time preferences influence the importance of and actions regarding old age health as well as factors behind taking up protective measures against the financial risks of care at old age. We discuss the complexity of planning for old age including the challenges related to our imperfect ability to predict the future or what our preferences for the future will be when making decisions today. We include the role of social norms and family experience in decision-making as well as the cognitive demands required of old age planning. We also incorporate the roles of biases such as optimism and present bias as well as risk denial and procrastination into decision-making about ageing. The chapter finishes with a consideration of nudges appropriate to this context.

Keywords

AgeingCaregivingLonelinessMisinformationOld ageInstitutionalizationProcrastinationFraming
Type
Chapter
Information
Behavioural Incentive Design for Health Policy
Steering for Health
 , pp. 149 - 161
Publisher: Cambridge University Press
Print publication year: 2023

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