Frehen, Rik G.P.; Hoevenaars, Roy P.M.M.; Palm, Franz C.; … - In: Insurance: Mathematics and Economics 42 (2008) 3, pp. 1050-1061
The high value of the implicit option to choose a retirement date at which interest rates are particularly high and life annuities relatively cheap, leads to the possibility to introduce regret aversion in the retirement investment decision of defined contribution plan participants. As a remedy...