In a large online experiment, we relate the retirement timing decision to the disparity between the willingness-to-accept (WTA) and the willingness-to-pay (WTP). In the WTP treatment, participants indicate the maximum amount of monthly benefits they are willing to give up in order to retire...

Healthy banks are crucially important for smooth lending. Correspondingly, bank regulations including Basel III intend to create a strong financial sector. However, the higher capital requirements may also worsen the access to finance especially during the transition period. Using data on...