Time inconsistency and retirement planning

We quantify the welfare gains from better retirement planning using a model in which retirement planning is time inconsistent. A modest increase in a household’s planning horizon by just a few years generates large aggregate and individual welfare gains.

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Year of publication:	2013
Authors:	Caliendo, Frank N. ; Findley, T. Scott
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 121.2013, 1, p. 30-34
Publisher:	Elsevier
Subject:	Financial literacy \| Planning \| Time inconsistency

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Type of publication:	Article
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; D03 - Behavioral Economics; Underlying Principles ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; H55 - Social Security and Public Pensions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010702786