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Edited Book No access
Behavioral Dimensions of Retirement Economics
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2010
Summary
Deciding when and how to retire are among the most important decisions most people make. Can they be depended on to plan with foresight and make sound decisions? According to standard economic analysis the answer is a qualified "yes." But studies by psychologists, sociologists, and economists themselves raise doubts about this comforting appraisal. This volume by analysts trained in economics and other disciplines suggests that retirement planning and decisions fall far short of the rational ideal. Gary Burtless explains what economic research has to say about retirement behavior. Annamaria Lusardi reports that many people in their fifties and older say they have not even thought about retirement. Mathey Rabin and Ted O'Donoghue show that procrastination can cause huge economic losses. Robert Axtell and Joshua Epstein show that herd behavior explains observed patterns of retirement behavior better than does the assumption of rational decisionmaking. George Loewenstein, Drazen Prelec, and Roberto Weber report that many people incorrectly anticipate what retirement will be like and rationalize whatever decision they have made. David Fetherstonhaugh and Lee Ross report experimental evidence that the effect of Social Security provisions may depend on how these policies are "framed" as well as on the specific content of those policies. These and other authors also explore the broader implications of these behavioral patterns. Copublished with Russell Sage Foundation
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Bibliographic data
Copyright year
2010
ISBN-Print
978-0-8157-0064-7
ISBN-Online
978-0-8157-0553-6
Publisher
Rowman & Littlefield, Lanham
Language
English
Pages
291
Product type
Edited Book
Table of contents
ChapterPages
Preface No access
Table of Contents No access
Introduction No access Pages 1 - 6
An Economic View of Retirement No access Pages 7 - 42
Retirement, Retirement Research, and Retirement Policy No access Pages 43 - 80
Information, Expectations, and Savings for Retirement No access Pages 81 - 124
Procrastination in Preparing for Retirement No access Pages 125 - 160
Coordination in Transient Social Networks: An Agent-Based Computational Model of the Timing of Retirement No access Pages 161 - 186
Framing Effects and Income Flow Preferences in Decisions about Social Security No access Pages 187 - 214
What, Me Worry? A Psychological Perspective on Economic Aspects of Retirement No access Pages 215 - 252
Family Bargaining and Retirement Behavior No access Pages 253 - 282
