We report results from an incentivized lab-in-the-field experiment on delegation behavior among a sample of 64 Australian couples aged 60 years and above. Participants were required to complete a series of decision-making tasks, which they had the option of either completing independently or...

This study presents an improved method of dealing with embedded tax liabilities in portfolio choice. We argue that using a risk-free discount rate is appropriate for calculating the present value of future tax liabilities. Supportive of recent research, our results found a taxation-induced...