Valuing Life and time in the knowledge economy

This project will develop a new theoretical framework to examine systematically the valuation of life and time in the knowledge economy. It will focus on the effects of aging, accumulation of knowledge, interest rate, labor specialization and uncertainty on the values of life, time and health. In our era of knowledge-driven growth, this is a research area of both conceptual and policy significance, Yet it has not been adequately explored in the economics literature. This project will increase not only our understanding of the profound implications of growth in knowledge, but also generates new insights that may serve as guidelines for policy making in health care and labor markets.