The purpose of this research is to analyze the influence of financial literacy and materialism on the savings decision of Indonesia’s generation Z. This study was motivated by the country’s agenda to achieve financial inclusion and develop human resources throughout the nation. We...

We present an intertemporal portfolio choice model where individuals invest in financial literacy, save, allocate their wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return and the cost of stock market participation. Since...

We elicit preferences for retirement timing in a laboratory experiment. Subjects make retirement choices under different payoff schemes that introduce variation in financial incentives. Testing ceteris paribus conditions of the financial incentive alone shows a considerable delay of retirement...