This paper documents trends over the last two decades in retirement behavior and retirement income choices by participants in TIAA, a large and mature defined contribution plan with a wide range of withdrawal options. Between 2000 and 2018, the average retirement age rose by approximately 1.3...

Firms that must choose capacity in advance of observing uncertain or time varying demand sometimes have more inventory than their full price customers will consume. By pricing a limited quantity at below market clearing rates, “rationed promotions” allow sellers to recruit enough excess...

We study demand for advice by retirement plan participants using administrative records from defined contribution retirement plans offered by 23 institutions where TIAA is the sole recordkeeper. We distinguish advice on asset allocation from advice on retirement income levels, and between...

We measure the relative need and demand for financial education programs among graduate students at a large university system. We find self-assessed and measured financial literacy is significantly related to interest and demand for financial education. Individuals who self-report a high level...

We draw wide-ranging implications about slave productivity change by making use of newly collected data on the prices paid for nearly 230,000 slaves as they arrived in the Americas from Africa between 1674 and 1807. Prices for the product that most slaves were destined to produce - sugar - are...