Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement …

This study exploits a new dataset in order to quantify the effect of financial incentives on retirement choices. This … Wise (2004), we find that financial incentives have an effect on retirement. The effect goes in the expected direction …; when employees become eligible for pension benefits the change in financial incentives they experience is so high that …

various financial incentives, including both carrots to sticks. Once their benefit spell exceeded one year, welfare recipients …