Deciding how much to save for retirement is a difficult task surrounded with many uncertainties. In this paper we study the impact of uncertainty about one's savings adequacy on retirement savings contributions and information search. We combine ideas from literature in psychology and economics...

In this paper we propose the use of preferred outcome distributions as a new method to elicit individuals' value and probability weighting functions in decisions under risk. Extant approaches for the elicitation of these two key ingredients of individuals' risk attitude typically rely on a long,...

Individuals' planned retirement age is affected by a trade-off between financial costs (a feasibility oriented consideration) and the number of years in retirement (a desirability oriented consideration). Previous research shows that construal level interventions (i.e., activating a global vs....

We introduce and test a behavioral model of consumer product search that extends a baseline normative model of sequential search by incorporating non-normative influences that are local in the sense that they reflect consumers' undue sensitivity to recently encountered alternatives. We propose...