Who's Afraid of a Poor Old-Age?: Risk Perception in Risk Management Decisions
- Topics:
- Risk Analysis and Management
- Source:
- University of Pennsylvania
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Overview: Retirement planning and voluntary as well as mandated contributions to pension plans require a series of decisions under uncertainty. Those range from initial decisions about the magnitude of contributions and allocation across different investment options and choice of option providers, to periodic reviews of these decisions in light of possible changes in goals or circumstances. Behavioral decision research provides a series of lessons about how such decisions are made and thus for the optimal design of pension plans. This paper will addresses the role of affect in perceptions of risk and subsequent decisions to take actions that reduce or manage perceived risks.
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Format: PDF | Size: 220KB | Date: Aug 2003 | Pages: 25




