Behavioral economics and aging

Aging populations represent a growing health and economic challenge for many countries. While economists have studied aging extensively, the issue of aging has received less direct attention from the relatively younger field of behavioral economics. Nonetheless, many of the best-understood policies proposed by behavioral economics have implications for aging. In this paper, I review theoretical and empirical work in behavioral economics relevant to policies around global aging and highlight areas where more evidence is needed. I focus on interventions that encourage financial preparation for old age, policies that attempt to change health behaviors to mitigate the burden of non-communicable diseases and the implications of behavioral economics for policies that policies related to aging around health spending, insurance and regulation.