The problem for researchers is that government data collection practices lag

behind advances in economic thinking. Mr Hurst grumbles that most methods

for wellbeing—such as the British Household Survey—typically do not
include many questions about time use. But it would be relatively easy to
include them. And this would help us to understand better exactly what
happens to people as they age.
* Aguiar, M. and Hurst, E. (2013) “Deconstructing Life Cycle Expenditure” Journal of Political Economy, Vol. 121, No. 3, pp. 437-492.