What Can Economics Say about Alzheimer’s Disease?

Abstract

Alzheimer’s disease (AD) affects one in ten people aged 65 or older and is the most expensive disease in the United States. We describe the central economic questions raised by AD. Although there is overlap with the economics of aging and health, the defining feature of the “economics of Alzheimer’s disease” is an emphasis on choice by cognitively impaired patients that affects health and financial well-being, and situations in which dynamic contracts between patients and caregivers are useful but difficult to enforce. A focus on innovation in AD prevention, treatment, and care is also critical given the enormous social cost of AD and present lack of understanding of its causes, which raises questions of optimal resource allocation and alignment of private and social incentives. The enormous scope for economists to contribute to our understanding of AD-related issues including drug development, efficient care delivery, dynamic contracting, long-term care risk, financial decision-making, and the design of public programs for AD suggests a rich research program for many areas of economics. (JEL G22, G50, I10, I38, J14, L65, O31)

Feasibility and acceptability of an acceptance and commitment therapy for caregivers of dementia: a single arm trial emphasizing adult protection

“…Importantly, unpaid informal caregivers, such as family members, account for 44% of the annual economic cost of dementia (Aranda et al, 2021). In many nations, family members are considered the primary source of care for this condition (Chandra et al, 2022). These findings indicate that unpaid family caregivers constitute a vital task force in the care of dementia patients worldwide.…”

“…Caregivers may face challenging personality and behavioral changes, such as wandering, yelling, aggression and property damage (Chiao et al, 2015). Therefore, caregiving is timeconsuming, leading to social isolation (Chandra et al, 2022) and can strain caregivers' financial resources, including additional costs and reduced working hours. The literature often emphasizes the adverse impact on caregivers' psychological health and social life (McIntyre et al, 2020).…”

“…, 2021). In many nations, family members are considered the primary source of care for this condition (Chandra et al. , 2022).…”

“…, 2015). Therefore, caregiving is time-consuming, leading to social isolation (Chandra et al. , 2022) and can strain caregivers' financial resources, including additional costs and reduced working hours.…”