High replacement rates from public old age insurance might lead to the belief that little room is left for private sector life annuities in Germany. Taking a closer look, we find a small market with a surprisingly large variety of products. Due to the recent pension reform and future ones to...

We analyse risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: Utility curvature, loss aversion, preferences towards...

We document the evolution of hours of work using monthly data from February to June 2020. During this period, the Netherlands experienced a quick spread of the SARS-CoV-2 virus, enacted a lockdown for a period of six weeks and gradually opened thereafter. We show that during lock-down,...

We analyse risk preferences using an experiment with real incentives in a representative sample of 1,422 Dutch respondents. Our econometric model incorporates four structural parameters that vary with observed and unobserved characteristics: Utility curvature, loss aversion, preferences towards...

This paper assesses the effect of the Affordable Care Act (ACA) on the labor supply of Americans ages 50 and older. Using data from the Health and Retirement Study and the Medical Expenditure Panel Survey, we estimate a dynamic programming model of retirement that accounts for both saving and...

Using a survey module administered in late March 2020, we analyze how working hours change under the social distancing regulations enacted to fight the COViD-19 pandemic. We study the Netherlands, which are a prototypical Western European country, both in terms of its welfare system and its...

Cognitive impairment has emerged as a major driver of disability in old age, with profound effects on individual well-being and decision-making at older ages. Decelerating its decline among the elderly is one of the main challenges for ageing societies. In the light of policies aimed at...

An ever increasing number of experiments attempts to elicit risk preferences of a population of interest with the aim of calibrating parameters used in economic models. We are concerned with two types of selection effects, which may affect the external validity of standard experiments: Sampling...

Household investment mistakes are an important concern for researchers and policymakers alike; portfolio underdiversification ranks among those mistakes that are potentially most costly. However, its roots and empirical importance are poorly understood. I estimate quantitatively meaningful...