Framing and the Annuitization Decision:Experimental Evidence from a Dutch Pension Fund
We report the effects of framing and default settings in annuity demand after conducting a survey-based experiment with over 3,000 members of a Dutch occupational pension plan. The participants were asked to allocate their real projected pension accrual between a life annuity and a partial lump sum. In particular, we investigated the joint effects of consumption and investment frames and gain and loss frames. We present strong evidence for framing and default setting effects in annuity demand. We also find robust evidence of individual characteristics of influence annuity demand, highlighting... Mehr ...
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Dokumenttyp: | workingPaper |
Erscheinungsdatum: | 2016 |
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Schlagwörter: | annuity puzzle / framing / pension annuities / lump sum |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-27448194 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | https://research.tilburguniversity.edu/en/publications/92cb5865-3759-4017-abd2-55ea010827bc |