| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18575 |
| 来源ID | Working Paper 18575 |
| What Makes Annuitization More Appealing? | |
| John Beshears; James J. Choi; David Laibson; Brigitte C. Madrian; Stephen P. Zeldes | |
| 发表日期 | 2012-11-29 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We conduct and analyze two large surveys of hypothetical annuitization choices. We find that allowing individuals to annuitize a fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few respondents choose declining real payout streams over flat or increasing real payout streams of equivalent expected present value. Highlighting the effects of inflation increases demand for cost of living adjustments. Frames that highlight flexibility, control, and investment significantly reduce annuitization. A majority of respondents prefer to receive an extra "bonus" payment during one month of the year that is funded by slightly lower payments in the remaining months. Concerns about later-life income, spending flexibility, and counterparty risk are the most important self-reported motives that influence the annuitization decision. |
| 主题 | Microeconomics ; Behavioral Economics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Labor Economics ; Demography and Aging ; Labor Compensation |
| URL | https://www.nber.org/papers/w18575 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576250 |
| 推荐引用方式 GB/T 7714 | John Beshears,James J. Choi,David Laibson,et al. What Makes Annuitization More Appealing?. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18575.pdf（588KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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