This article describes the agent-based model using the Overview, Design Concept, and Details + Human Decision-making (ODD+D protocol). The model is empirically explicit and aims to investigate the adoption decisions of homeowners in Amsterdam on different energy-efficient retrofitting (EER) measures. Following the ODD+D protocol, this study uncovers the conceptual framework used for model construction, the spatial microsimulation process of expanding the data, and the model implementation details.
View Article and Find Full Text PDFGeneva Pap Risk Insur Issues Pract
July 2017
Older Americans have experienced dramatic gains in life expectancy in recent decades, but an emerging literature reveals that these gains are accumulating mostly to those at the top of the income distribution. We explore how growing inequality in life expectancy affects lifetime benefits from Social Security, Medicare, and other programs and how this phenomenon interacts with possible program reforms. We first project that life expectancy at age 50 for males in the two highest income quintiles will rise by 7 to 8 years between the 1930 and 1960 birth cohorts, but that the two lowest income quintiles will experience little to no increase over that time period.
View Article and Find Full Text PDFEconomists in recent decades have turned their attention to data that asks people how happy or satisfied they are with their lives. Much of the early research concluded that the role of income in determining well-being was limited, and that only income relative to others was related to well-being. In this paper, we review the evidence to assess the importance of absolute and relative income in determining well-being.
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