An Experimental Analysis Of Annuity Aversion The Role Of Framing And Uncertainty PDF Download
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| Author | : Sven Nolte |
| Publisher | : |
| Total Pages | : 34 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
Download An Experimental Analysis of Annuity Aversion the Role of Framing and Uncertainty Book in PDF, ePub and Kindle
To understand the factors that influence people in their retirement decisions is of great importance. Due to an ongoing shift in western societies from public to private pension systems it becomes more and more the task of individual retirees to insure against longevity risk. While economic theory suggests that annuities should account for large parts of a retiree's income, only few retirees include private annuities in their retirement portfolio at all. Empirical data on what drives this annuity aversion is limited, so we suggest using laboratory experiments to test possible explanations for the low rates of annuitization. We propose an experimental setup and provide a possible framework for future experimental research in the context of annuities. In a first application, we use this framework to test the influence of framing and lifetime uncertainty on annuity aversion.
| Author | : |
| Publisher | : Elsevier |
| Total Pages | : 749 |
| Release | : 2018-09-27 |
| Genre | : Business & Economics |
| ISBN | : 0444633898 |
Download Handbook of Behavioral Economics - Foundations and Applications 1 Book in PDF, ePub and Kindle
Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics
| Author | : William J. Congdon |
| Publisher | : Brookings Institution Press |
| Total Pages | : 260 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 0815704984 |
Download Policy and Choice Book in PDF, ePub and Kindle
Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.
| Author | : Jeffrey R. Brown |
| Publisher | : MIT Press |
| Total Pages | : 248 |
| Release | : 2001-11-09 |
| Genre | : Business & Economics |
| ISBN | : 9780262261692 |
Download The Role of Annuity Markets in Financing Retirement Book in PDF, ePub and Kindle
Annuity insurance products help protect retirees against outliving their incomes. Dramatic advances in life expectancy mean that today's retirees must plan on living into their eighties, their nineties, and even beyond. Longer life expectancies are the symbol of a prosperous society, but this progress also means that some retirees will need to plan conservatively and cut back substantially on their living standards or risk living so long that they exhaust their resources. This book examines the role that life annuities can play in helping people protect themselves against such outcomes. A life annuity is an insurance product that pays out a periodic amount for as long as the annuitant is alive, in exchange for a premium. The book begins with a history of life annuity markets during the twentieth century in the United States and elsewhere. It then explores recent trends in annuity pricing and money's worth, as well as the economic value generated for purchasers of these products. The book explains the potential importance of inflation-protected annuities and stock-market-linked variable annuities in providing more complete retirement security. The concluding chapters examine life annuities in various institutional settings and the tax treatment of annuity products.
| Author | : Shlomo Benartzi |
| Publisher | : Penguin |
| Total Pages | : 288 |
| Release | : 2012-04-12 |
| Genre | : Business & Economics |
| ISBN | : 110158033X |
Download Save More Tomorrow Book in PDF, ePub and Kindle
One of the world’s top experts in behavioral finance offers innovative strategies for improving 401(k) plans. Half of Americans do not have access to a retirement saving plan at their workplace. Of those who do about a third fail to join. And those who do join tend to save too little and often make unwise investment decisions. In short, the 401(k) world is in crisis, and workers need help. Save More Tomorrow provides that help by focusing on the behavioral challenges that led to this crisis inertia, limited self-control, loss aversion, and myopia—and transforms them into behavioral solutions. These solutions, or tools, are based on cutting edge behavioral finance research and they can dramatically improve outcomes by, for example, helping employees: -Save, even if they aren’t ready to do so now, by using future enrollment. -Save more by showing them images of their future selves. -Save smarter by reshuffling the order of funds on the investment menu. Save More Tomorrow is the first comprehensive application of behavioral finance to improve retirement outcomes. It also makes it easy for plan sponsors and their advisers to apply these behavioral tools using its innovative Behavioral Audit process.
| Author | : |
| Publisher | : |
| Total Pages | : 108 |
| Release | : 2007 |
| Genre | : Age distribution (Demography) |
| ISBN | : |
Download Growing Older in America Book in PDF, ePub and Kindle
| Author | : David E. Bell |
| Publisher | : Thomson South-Western |
| Total Pages | : 228 |
| Release | : 1995 |
| Genre | : Business & Economics |
| ISBN | : |
Download Decision Making Under Uncertainty Book in PDF, ePub and Kindle
These authors draw on nearly 50 years of combined teaching and consulting experience to give readers a straightforward yet systematic approach for making estimates about the likelihood and consequences of future events -- and then using those assessments to arrive at sound decisions. The book's real-world cases, supplemented with expository text and spreadsheets, help readers master such techniques as decision trees and simulation, such concepts as probability, the value of information, and strategic gaming; and such applications as inventory stocking problems, bidding situations, and negotiating.
| Author | : Joachim Klement |
| Publisher | : CFA Institute Research Foundation |
| Total Pages | : 150 |
| Release | : 2018-05-01 |
| Genre | : Business & Economics |
| ISBN | : 1944960473 |
Download Risk Profiling and Tolerance: Insights for the Private Wealth Manager Book in PDF, ePub and Kindle
If risk aversion and willingness to take on risk are driven by emotions and we as humans are bad at correctly identifying them, the finance profession has a serious challenge at hand—how to reliably identify the individual risk profile of a retail investor or high-net-worth individual. In this series of CFA Institute Research Foundation briefs, we have asked academics and practitioners to summarize the current state of knowledge about risk profiling in different key areas.
| Author | : National Research Council |
| Publisher | : National Academies Press |
| Total Pages | : 326 |
| Release | : 2001-06-26 |
| Genre | : Social Science |
| ISBN | : 0309170877 |
Download Preparing for an Aging World Book in PDF, ePub and Kindle
Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.
| Author | : Sanjit Dhami |
| Publisher | : Oxford University Press |
| Total Pages | : 336 |
| Release | : 2019-02-14 |
| Genre | : Business & Economics |
| ISBN | : 0192572547 |
Download The Foundations of Behavioral Economic Analysis Book in PDF, ePub and Kindle
This first volume of The Foundations of Behavioral Economic Analysis covers the opening topic found in this definitive introduction to the subject: the behavioral economics of risk, uncertainty, and ambiguity. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines how the decision maker chooses his optimal action in the presence of risk, uncertainty, and ambiguity. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioural economics.
