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Do Required Minimum Distribution 401(k) Rules Matter, and for Whom? Insights from a Lifecylce Model
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2021
Tax-qualified vehicles helped U.S. private-sector workers accumulate {dollar}25Tr in retirement assets. An often-overlooked important institutional feature shaping decumulations from these retirement plans is the "Required Minimum Distribution" (RMD) regulation, requiring retirees to withdraw a...
Persistent link: https://www.econbiz.de/10012655971
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Financial Risk-Taking under Health Risk
Bos, Björn; Drupp, Moritz A.; Meya, Jasper N.; Quaas, … - 2023
We study how background health risk affects financial risk-taking. We elicit financial risk-taking behavior of a representative sample of more than 5,000 Germans in five panel waves during the COVID-19 pandemic. Exploiting variation in local infections across time and space, we find that an...
Persistent link: https://www.econbiz.de/10014290297
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FinTech adoption and household risk-taking
Hong, Claire Yurong; Lu, Xiaomeng; Pan, Jun - 2021
China, we measure individuals' FinTech adoption by the speed and intensity with which they adopt the new technology. Our …
Persistent link: https://www.econbiz.de/10012815316
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SHE can't afford it and HE doesn't want it: The gender gap in the COVID-19 consumption response
Huber, Stefanie - 2022
This paper explores whether and why the pandemic differentially altered women and menÕs consumption behavior. After the 2020 wave of lockdown restrictions were lifted, women reduced consumption more than men. Data on self-reported reasons for consuming less reveals that gender differences in...
Persistent link: https://www.econbiz.de/10013356485
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Striking out: Biases and losses of retail option traders
Pitkäjärvi, Aleksi; Vacca, Matteo - 2024
Analyzing over 15 years of account-level trading records from Finland, we show that option features-expiration, moneyness, and the strike price-influence the behavior of retail investors and exacerbate their behavioral biases. Retail investors selectively exploit the expiration feature of...
Persistent link: https://www.econbiz.de/10014547719
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The Impact of Presentation Format and Choice Architecture on Portfolio Allocations: Experimental Evidence
Bachler, Sebastian; Holzmeister, Felix; Razen, Michael; … - 2021
The question of optimal presentation format and choice architecture for investment decisions has gained momentum among researchers, policy makers, and practitioners alike. Motivated by the question how to provide information to investors in a way to improve financial decision-making, we conduct...
Persistent link: https://www.econbiz.de/10012614677
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Who are robo-advisor users?
Kim, Seongsu David; Cotwright, Marty; Chatterjee, Swarn - In: Journal of Finance Issues 18 (2019) 2, pp. 33-50
The purpose of this study is to explore the demand for robo-advising services by analyzing the participants’ behavioral characteristics and investment patterns. With the 2015 Financial Industry Regulatory Authority Investor data, we found that robo-advisor users were younger investors with...
Persistent link: https://www.econbiz.de/10012420362
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Target date funds and portfolio choice in 401(k) plans
Mitchell, Olivia S.; Utkus, Stephen P. - 2021
Target date funds in corporate retirement plans grew from $5B in 2000 to $734B in 2018, partly because federal regulation sanctioned these as default investments in automatic enrollment plans. We show that adopters delegated pension investment decisions to fund managers selected by plan...
Persistent link: https://www.econbiz.de/10012669298
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Households' expectations and regional COVID-19 dynamics
Cato, Misina; Schmidt, Tobias - 2023
In this paper we analyze how consumers in Germany updated expectations about inflation in response to the COVID-19 … restriction measures and local unemployment rates on inflation expectations. We find that consumers who were locally more exposed … to COVID-19 cases report higher inflation expectations. The relationship between the virus spread and inflation …
Persistent link: https://www.econbiz.de/10014000472
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Proud to Not Own Stocks: How Identity Shapes Financial Decisions
Henkel, Luca; Zimpelmann, Christian - 2023
This paper introduces a key factor influencing households' decision to invest in the stock market: how people view stockholders. Using surveys we conducted with nearly 8,500 individuals from eleven countries, we document that a large majority of respondents view stockholders negatively – they...
Persistent link: https://www.econbiz.de/10014377149