Behavioral Dimensions Of Retirement Economics
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Behavioral Dimensions Of Retirement Economics
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Author : Henry Aaron
language : en
Publisher: Brookings Institution Press
Release Date : 2010-12-01
Behavioral Dimensions Of Retirement Economics written by Henry Aaron and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
Deciding when and how to retire are among the most important decisions most people make. Can they be depended on to plan with foresight and make sound decisions? According to standard economic analysis the answer is a qualified "yes." But studies by psychologists, sociologists, and economists themselves raise doubts about this comforting appraisal. This volume by analysts trained in economics and other disciplines suggests that retirement planning and decisions fall far short of the rational ideal. Gary Burtless explains what economic research has to say about retirement behavior. Annamaria Lusardi reports that many people in their fifties and older say they have not even thought about retirement. Mathey Rabin and Ted O'Donoghue show that procrastination can cause huge economic losses. Robert Axtell and Joshua Epstein show that herd behavior explains observed patterns of retirement behavior better than does the assumption of rational decisionmaking. George Loewenstein, Drazen Prelec, and Roberto Weber report that many people incorrectly anticipate what retirement will be like and rationalize whatever decision they have made. David Fetherstonhaugh and Lee Ross report experimental evidence that the effect of Social Security provisions may depend on how these policies are "framed" as well as on the specific content of those policies. These and other authors also explore the broader implications of these behavioral patterns. Copublished with Russell Sage Foundation
Behavioral Dimensions Of Retirement Economics
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Author : Henry J. Aaron
language : en
Publisher: Brookings Inst Press
Release Date : 1999
Behavioral Dimensions Of Retirement Economics written by Henry J. Aaron and has been published by Brookings Inst Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Deciding when and how to retire are among the most important decisions most people make. This volume by analysts trained in economics and other disciplines suggests that retirement planning and decisions fall far short of the rational ideal.
Behavioral Aspects Of Product Design And Demand In Retirement Savings
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Author : Stefan Schelling
language : en
Publisher:
Release Date : 2019
Behavioral Aspects Of Product Design And Demand In Retirement Savings written by Stefan Schelling and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Behavioral And Psychological Aspects Of The Retirement Decision
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Author : Melissa Knoll
language : en
Publisher:
Release Date : 2015
Behavioral And Psychological Aspects Of The Retirement Decision written by Melissa Knoll and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The majority of research on the retirement decision has focused on the health and wealth aspects of retirement. Such research concludes that people in better health and those enjoying a higher socioeconomic status tend to work longer than their less healthy and less wealthy counterparts. While financial and health concerns are a major part of the retirement decision, there are other issues that may affect the decision to retire that are unrelated to an individual's financial and health status. Judgment and decision-making and behavioral-economics research suggests that there may be a number of behavioral factors influencing the retirement decision. The author reviews and highlights such factors and offers a unique perspective on potential determinants of retirement behavior, including anchoring and framing effects, affective forecasting, hyperbolic discounting, and the planning fallacy. The author then describes findings from previous research and draws novel connections between existing decision-making research and the retirement decision.
Assessing Knowledge Of Retirement Behavior
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Author : Panel on Retirement Income Modeling
language : en
Publisher: National Academies Press
Release Date : 1996-08-13
Assessing Knowledge Of Retirement Behavior written by Panel on Retirement Income Modeling and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-08-13 with Social Science categories.
This book brings together in one volume what researchers have learned about workers, employers, and retirees that is important for formulating retirement income policies. As the U.S. population ages, there is increasing uncertainty about the solvency of the Social Security and Medicare systems and the adequacy of private pensions to provide for people's retirement needs. The volume covers such critical behaviors as workers' decisions to retire, people's choices of saving over consumption, and employers' decisions about hiring older workers and providing pension and health care benefits. Also covered are trends in mortality, health status, and health care costs that are key to projecting the likely costs and effects of alternative retirement income security policies and a strategy for combining data and research knowledge into a policy modeling framework.
Retirement And Economic Behavior
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Author : Henry J. Aaron
language : en
Publisher: Washington, D.C. : Brookings Institution
Release Date : 1984
Retirement And Economic Behavior written by Henry J. Aaron and has been published by Washington, D.C. : Brookings Institution this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.
Conference papers on economic implications and aspects of retirement in the USA - examines the effects of private pension schemes and maintenance of acquired rightss, the correlation between early retirement and health, social security, and unemployment, the labour force participation of retired workers, standard of living and housing of older people, effect of population dynamics on old age benefit policy, saving behaviour, and retirement income projections to 2020. References. Conference held in Washington 1982 Oct 21 and 22.
Saving For Retirement
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Author : Gordon L. Clark
language : en
Publisher: OUP Oxford
Release Date : 2012-01-05
Saving For Retirement written by Gordon L. Clark and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-05 with Business & Economics categories.
Understanding the ways in which people save for their retirement is an urgent issue. So much has changed in the last 10 to 15 years, especially in the area of the provision of pensions and retirement income. Around the world, greater and greater responsibility is being allocated to individuals while governments discount their contributions to social security and employers retreat from the provision of supplementary retirement income. This book explores the behavioral revolution and its implications for understanding financial decision-making and saving for the future. Recognizing the profound implications of this research program, it goes beyond issues of risk aversion, framing, and decision-making to consider how social identity and the resources due to people by virtue of their place in society figure in savings behavior. It gives considerable attention to the context of the environment in which people make financial decisions, arguing that this allows a better understanding of the coexistence of sophistication and naivety apparent in patterns of retirement saving. Utilizing databases from the UK, the book provides an empirical foundation to its theoretical arguments, demonstrating how an integrated approach to individual financial decision-making is necessary if we are to address the apparent shortfall in many people's planning for the future. The book concludes by setting the agenda for the design, governance, and regulation of pension savings schemes consistent with delivering cost-effective solutions to pension adequacy. In these ways, it sets forth a strategy for rethinking individual behavior as well as the design of retirement income systems.
Chapter 16
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Author : James Howard
language : en
Publisher:
Release Date : 2014
Chapter 16 written by James Howard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
An important challenge facing employees and societies is saving and investing sufficient funds for a comfortable retirement. Research shows that human financial decision-making behavior is not always rational and that public trust in the economy can be lost. Surprisingly, neither better disclosure of financial services and products nor education has had a discernible effect in motivating individuals to effectively plan and save for transitioning out of the workforce. The fields of cognitive psychology and neuroscience identify many behavioral obstacles individuals face in taking the needed steps to save and invest more for the future. A host of behavioral issues influence an individual's decision-making about retirement including biases, heuristics, framing, hyperbolic discounting, self-awareness, and self-control. The emerging works on trust also add to understanding the retirement planning system. Exploring these findings and strategies for mitigating financial decision-making errors can make a substantive contribution to achieving a more secure retirement.
Behavioral Influences On Retirement Planning
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Author : Janet Aschkenasy
language : en
Publisher:
Release Date : 2013-10-01
Behavioral Influences On Retirement Planning written by Janet Aschkenasy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-01 with categories.
The supposed rational logic of the market is no longer understood to exclusively motivate economic decision making. Behavioral economics is now a vital part of university curriculums. Both lay persons and professional retirement investors at times manage money on irrational behavioral factors. Janet Aschkenasy, a veteran business writer, discusses the insights of leading behavioral economics scholars and draws upon current research to describe "decision making" practices among individuals and retirement managers. Often higher investment returns are forfeited to a behavioral reflex. This book explores common behavioral factors and how retirement plans have attempted to minimize non-rational behavioral retirement investment.
Retirement Planning
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Author : James A. Howard
language : en
Publisher:
Release Date : 2015
Retirement Planning written by James A. Howard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
An important challenge facing employees and societies is saving and investing sufficient funds for a comfortable retirement. Research shows that human financial decision-making behavior is not always rational and that public trust in the economy can be lost. Surprisingly, neither better disclosure of financial services and products nor education has had little discernible effect in motivating individuals to effectively plan and save for transitioning out of the workforce. The fields of cognitive psychology and neuroscience identify many behavioral obstacles individuals face in taking the needed steps to save and invest more for the future. A host of behavioral issues influence an individual's decision making about retirement including biases, heuristics, framing, hyperbolic discounting, self-awareness, and self-control. The emerging works on trust also add to our understanding of the retirement planning system. Exploring these findings and strategies for mitigating financial decision-making errors can make a substantive contribution to achieving a more secure retirement.