Dec18
![CEPAR CEPAR](https://cepar.edu.au/sites/default/files/styles/hero_image/public/band-1-01.jpg?itok=zMysOdVf)
A recent study by CEPAR Graduate Phitawat Poonpolkul of the Australian National University argues that the conventional welfare assessment omits at least two important aspects: age-dependent risk aversion that plays a crucial role in economic decisions, and changes in future uncertainties that may complicate individuals’ lifetime planning. In this Austaxpolicy piece he explains why these two aspects are necessary.