TAILIEUCHUNG - THE DEMOGRAPHIC FACES OF THE ELDERLY

Some recent experiments support a claim that the observed differences between willingness to pay and willingness to accept are related to experimental procedures and have nothing to do with preference asymmetries (Plott and Zeiler (2003)) or are eliminated by trading experience (List, 2003). Older people are often presumed to be more conservative and more likely to avoid risk. If this is true, then it would seem natural to expect loss avoidance to be stronger in the older populations. Alternatively, it may be that older people having experienced the loss of many everyday items have learned that such. | The Demographic Faces of the Elderly Linda J. Waite From Waite Linda J. ed. . Aging Health and Public Policy Demographic and Economic Perspectives Supplement to Population and Development Review vol. 30 2004. New York Population Council. 2005 by The Population Council Inc. All rights reserved. Population Council One Dag Hammarskjold Plaza New York NY 10017 USA e-mail pubinfo@ The Demographic Faces of the Elderly Linda J. Waite Much of the world is aging rapidly. Both the number and proportion of people aged 65 years and older are increasing although at different rates in different parts of the world. The number of older adults has risen more than threefold since 1950 from approximately 130 million to 419 million in 2000 with the elderly share of the population increasing from 4 percent to 7 percent during that period. In the United States those aged 65 and older currently make up about 13 percent of the population. The US Census Bureau 2004 projects that in 25 years this proportion will exceed 20 percent. Over the next 50 years the United States will undergo a profound transformation becoming a mature nation in which one citizen in five is 65 or older. Now one person in eight is that old. The dramatic increases to come in the older population will exert powerful pressures on health care delivery systems on programs such as Social Security Medicare Medicaid and Supplemental Security Income that provide financial support and on social institutions such as the family that provide instrumental financial and emotional support for the elderly. As part of the same process the older population itself will age with large increases in the number of people who are 85 and older. In 2004 these oldest-old Americans accounted for just over 1 percent of the population US Census Bureau 2004 but they exert a disproportionate effect on both their families and the health care system. These oldest-old men and more frequently women are much more likely .

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