We exploit the fact that Israeli pension insurance policies do not take health conditions or smoking status into account in annuity pricing to investigate the potential effect of being a smoker on retirement payout choices. Contrary to the idea that smokers have higher discount rates (and thus...

Music plays a significant role in human life. Background music surrounds us in many places, in restaurants, shopping centers and even at work. The literature suggests that background music can influence an individual’s decision-making process. In the current study we asked participants to...