A rational choice theory of midlife crises Academic Article

abstract

• This paper models the midlife crisis as a decision on whether and when to realize a life dream, incorporating the key components of three psychology theories of midlife crises, It explains why a crisis (dream realization) tends to occur in the midlife if it occurs at all. Other results include that one either realizes his dream fully or not at all. that a shorter life expectancy makes a midlife crisis more likely, and that "crazier" dreams tend to be postponed to a later time in life.

authors

• Saving, Thomas

published proceedings

• ECONOMICS BULLETIN

author list (cited authors)

• Liu, L., Rettenmaier, A. J., & Saving, T. R.

publication date

• January 2012

published in

• Economics Bulletin  Journal

keywords

• A1
• Aging
• D9
• Death
• Dream
• Midlife Crisis

start page

• 51

end page

• 58

volume

• 32

issue

• 1