Theoretical Analysis of Suicide due to Economic Difficulties: For Preventing the Rising Tide of Middle-Aged Suicides

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I formalize the decision-making of those who contemplate suicide for economic reasons. In so doing, I take into account their option to postpone the action of committing suicide, which is typically ignored in the theoretical literature on economics of suicide. I numerically simulate the model, showing that an increased risk of income fluctuations results in a rise of the minimum level of income required for the youth suicide prevention as well as that for the elderly suicide prevention. The simulation result also shows that the former rise is faster than the latter. I extend the model by introducing two types of unemployment benefits for suicide prevention. One is that the amount of benefits is prefixed. The other is that the amount of benefits is proportional to the individual level of income prior to the job loss. I compare these two types, concluding that the fixed amount of benefits is better than the amount proportional to income for suicide prevention.