We conduct a neutral-context laboratory experiment to systematically investigate the role of the hit-by-bus concern in explaining the annuitization puzzle: the low rate of retirement-asset annuitization relative to the predictions of standard models. We vary endowed asset (annuity vs. stock of...

In rural areas of many developing countries, including China, people do not have the chance to retire, but rather have to continue working as they age. In this paper, we have two specific objectives. First, we will illustrate the work and retirement patterns of the elderly, and develop a profile...

The extensive literature documenting differences in wages between immigrants and US-born workers suggests immigrant households may enter retirement at a significant financial disadvantage relative to households headed by the native-born. However, little work has examined differences in...

The extensive literature documenting differences in wages between immigrants and US-born workers suggests immigrant households may enter retirement at a significant financial disadvantage relative to households headed by the native-born. However, little work has examined differences in...

The extensive literature documenting differences in wages between immigrants and US-born workers suggests immigrant households may enter retirement at a significant financial disadvantage relative to households headed by the native-born. However, little work has examined differences in...