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Subjective Income Expectations and Household Debt Cycles
D'Acunto, Francesco; Weber, Michael; Yin, Xiao - National Bureau of Economic Research - 2024
Matched transaction-level, credit-registry, and survey-based data reveal that consumers on average form excessively high (low) income expectations relative to ex-post realizations after unexpected positive (negative) income shocks. These extrapolative income expectations lead consumers to...
Persistent link: https://www.econbiz.de/10014635678
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Financial Regret at Older Ages and Longevity Awareness
Hurwitz, Abigail; Mitchell, Olivia S. - National Bureau of Economic Research - 2022
Older people often express regret about financial decisions made earlier in life that left them susceptible to old-age insecurity. Prior work has explored one outcome, saving regret, or peoples' expressed wish that they had saved more earlier in life. The present paper extends attention to five...
Persistent link: https://www.econbiz.de/10013462744
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Life Expectancy and Old Age Savings
De Nardi, Mariacristina - 2009
life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …
Persistent link: https://www.econbiz.de/10012463996
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Do the Retired Elderly in Europe Decumulate Their Wealth? The Importance of Bequest Motives, Precautionary Saving, Public Pensions, and Homeownership
Horioka, Charles; Ventura, Luigi - National Bureau of Economic Research - 2022
Retirement in Europe (SHARE) to examine the wealth accumulation (saving) behavior of the retired elderly in Europe. To summarize … our main findings, we find that less than half of the retired elderly in Europe are decumulating their wealth and that the … average wealth accumulation rate of the retired elderly in Europe is positive though relatively moderate (6.6% over a 3-year …
Persistent link: https://www.econbiz.de/10013388826
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Why Survey-Based Subjective Expectations are Meaningful and Important
D'Acunto, Francesco; Weber, Michael - National Bureau of Economic Research - 2024
For decades, households' subjective expectations elicited via surveys have been considered meaningless because they often differ substantially from the forecasts of professionals and ex-post realizations. In sharp contrast, the literature we review shows household characteristics and the ways in...
Persistent link: https://www.econbiz.de/10014512053
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Deferred Acceptance with News Utility
Dreyfuss, Bnaya; Glicksohn, Ofer; Heffetz, Ori; Romm, Assaf - National Bureau of Economic Research - 2022
Can incorporating expectations-based-reference-dependence (EBRD) considerations reduce seemingly dominated choices in the Deferred Acceptance (DA) mechanism? We run two experiments (total N = 500) where participants are randomly assigned into one of four DA variants--{static, dynamic} * {student...
Persistent link: https://www.econbiz.de/10013462684
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How do Behavioral Approaches to Increase Savings Compare? Evidence from Multiple Interventions in the U.S. Army
Patterson, Richard W.; Skimmyhorn, William L. - National Bureau of Economic Research - 2022
increase retirement savings. However, gauging the relative efficacy of these approaches is challenging because the supporting … rates, active choice, and automatic enrollment) designed to increase retirement savings. Consistent with previous literature …, we find sizable effects of savings interventions on participation and cumulative contributions that increase with the …
Persistent link: https://www.econbiz.de/10013462745
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Plan Design and Participant Behavior in Defined Contribution Retirement Plans : Past, Present, and Future
Reuter, Jonathan - National Bureau of Economic Research - 2024
savings are smaller than the short-run effects, with some savings financed via debt. I also review efforts to expand access to … employer-based retirement savings and liquid savings, the pros and cons of target date funds as default investment options …
Persistent link: https://www.econbiz.de/10014635616
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Tail and Center Rounding of Probabilistic Expectations in the Health and Retirement Study
Giustinelli, Pamela - 2018
A growing number of surveys elicit respondents' expectations for future events on a 0-100 scale of percent chance. These data reveal substantial heaping at multiples of 10 and 5 percent, suggesting that respondents round their reports. This paper studies the nature of rounding by analyzing...
Persistent link: https://www.econbiz.de/10012453157
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Do Older Adults Accurately Forecast Their Social Security Benefits?
Seiter, Grant M.; Slavov, Sita N. - National Bureau of Economic Research - 2023
How accurate are older people's expectations about their future Social Security benefits? Using panel data from the Health and Retirement Study, we compare respondents' observed Social Security claiming ages and benefits with subjective expectations provided during their 50s and early 60s. We...
Persistent link: https://www.econbiz.de/10014247944