Showing 1 - 10 of 26
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...
Persistent link: https://www.econbiz.de/10013117238
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,...
Persistent link: https://www.econbiz.de/10013082262
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....
Persistent link: https://www.econbiz.de/10013058484
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...
Persistent link: https://www.econbiz.de/10013094932
Studies have found evidence that seemingly irrelevant details of an income component such as its label have an effect on how it is used. Using a data set with more than one million employee-month observations, we investigate the role of functional form assumptions and time aggregation in the...
Persistent link: https://www.econbiz.de/10014161850
We consider longevity risk hedging problems, where survivor swaps are available as hedging instruments. As objective functions we consider the mean-variance and the mean-conditional-value-at-risk of the hedged liabilities, evaluated using an estimated probability law governing the mortality...
Persistent link: https://www.econbiz.de/10013027482
Forecasted mortality rates using mortality models proposed in the recent literature are sensitive to the sample size. In this paper we propose a method based on Bayesian learning to determine model-specific posterior distributions of the sample sizes. In particular, the sample size is included...
Persistent link: https://www.econbiz.de/10013027483
The vast literature on extrapolative stochastic mortality models mainly focuses on the extrapolation of past mortality trends and summarizes the trends by one or more latent factors. However, the interpretation of these trends is typically not very clear. On the other hand, explanation methods...
Persistent link: https://www.econbiz.de/10014148984
We analyze the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. We find global life satisfaction of happiness is well-described by four domains: job or daily activities, social...
Persistent link: https://www.econbiz.de/10014200835
To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or amount of work you can do‘” A possible drawback of such a measure is the possibility that...
Persistent link: https://www.econbiz.de/10014203822