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We review the evidence on decision making in complex choice situations—i.e., situations where there are many alternatives and/or where attributes of alternatives are difficult to understand. We focus on choices about health insurance, health care, and retirement planning, all of which are very...
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higher‐return tax‐advantaged private pensions and in housing. Second, we find that only the most patient households achieve … achieve high replacement rates out of lifetime average income-a more sensible summary measure of preparedness for retirement. …
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benefit (DB) and defined contribution (DC) pensions on average crowd out household wealth by $ 0 09 and $ 0 37 per dollar of …This paper specifies a life cycle model of saving and employment and uses it to analyze crowd out of private household … saving by public and private pensions. Some parameters of the model are estimated and others are calibrated to match life …
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