This paper examines two behavioral factors that diminish people's ability to value a life-time income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. By experimentally varying the degree of complexity, we provide the first causal evidence...

To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as "do you have an impairment or health problem limiting the kind or amount of work you can do?" A possible drawback of such a measure is the possibility that different...

To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as do you have an impairment or health problem limiting the kind or amount of work you can do?ʺ A possible drawback of such a measure is the possibility that different...

"The NBER Bulletin on Aging and Health provides summaries of publications like this. You can sign up to receive the NBER Bulletin on Aging and Health by email. Eligible participants in the U.S. Social Security system may claim benefits anytime from age 62-70, with benefit levels actuarially...

To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as, 'Do you have an impairment or health problem limiting the kind or amount of work you can do?' A possible drawback of such a measure is the possibility that different...

To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or amount of work you can do‘” A possible drawback of such a measure is the possibility that...