International Gains to Achieving Healthy Longevity

Abstract

Utilizing economic tools, we evaluate the gains from improving the relationship between biological and chronological age in dollar terms. We show that the gains to individuals are substantial because targeting aging exploits synergies between health and life expectancy and the complementarities across different diseases. Gains are boosted by improvements in life expectancy and a rising number of older people. We compute the value of slowing aging in a range of countries and estimate that increasing life expectancy by 1 year has an annual benefit of ∼4%-5% of gross domestic product (GDP). Augmenting GDP with these measures of health gains reveals the growing importance of achieving healthy longevity as a means of boosting welfare, with the need being particularly acute in the United States.

Figure 1.

(A) Willingness to pay (WTP) in thousand U.S. dollars for one extra year of life expectancy (LE) by improving mortality. Increases in LE are more valued for higher healthy life expectancy (HLE). (B) WTP in thousand U.S. dollars for one extra year of healthy life expectancy by improving health. Increases in HLE are more valued for higher LE.

Figure 2.

Comparing health effects of Peter Pan and Wolverine. In both cases, life expectancy at birth is increased to 100 years, driven by slower biological aging from age 30 for Peter Pan and a one-off reversal in biological age at 50 for Wolverine.

Figure 3.

(A) Willingness to pay (WTP) at birth for a 10% slowdown in aging with historical life expectancy and survival rates. (B) Average individual WTP for a 10% slowdown in aging with historical population structure.