This paper evaluates potential methods for reducing ambiguity surrounding returns on equity to improve financial decision making related to retirement planning. We first assess the degree of ambiguity aversion exhibited by individuals in the sample population as they decide between a risky...

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...