Abstract
The resources -- material, health, and family -- available to adults at older ages do much to determine how they fulfill the developmental challenges of later life stages. The field of economics is often seen as concerned with the acquisition and allocation of material resources, especially financial wealth. But the broader microeconomics paradigm for individual behavior starts with the idea that individuals (and families) attempt to do the best they can to meet their goals, given their current circumstances, external constraints, knowledge, and views of an uncertain future. A focus on individuals’ decision points, whether opportunities are wide or restricted, can support statistical modeling of complex phenomena and identify public policy levers for change.