Behavioral Dimensions of Retirement Economics
Edited by Henry J. Aaron
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Behavioral Dimensions of Retirement Economics by Henry J. Aaron
Book DescriptionDeciding 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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Book DetailsISBN: 9780815700647
(229mm x 152mm x 0mm)
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 1-Sep-1999
Country of Publication: United States
Books By Author Henry J. Aaron
Closing the Deficit, Paperback (September 2013)
As the average age of the population continues to rise in industrialized nations, the fiscal impacts of aging demand ever-closer attention. This title examines one oft-discussed approach to the issue - encouraging people to work longer than they now do.
Using Taxes to Reform Health Insurance, Paperback (November 2008)
Few people realize that one of the nation's largest health programs runs through the tax system. Reformers of all stripes propose to modify current tax rules as part of larger programs to increase coverage and control costs.
Reforming Medicare, Hardback (July 2008)
Everyone agrees on the need to reform Medicare but not on how to do it. Some argue the program is too comprehensive, others that it is not comprehensive enough.
Can We Say No?, Hardback (November 2005)» View all books by Henry J. Aaron
Over the past four decades, the share of income devoted to health care nearly tripled. If policy is unchanged, this trend is likely to continue. Should Americans decide to rein in the growth of health care spending, they will be forced to consider whether to ration care for the well-insured, a prospect that is odious and unthinkable to many.
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Author Biography - Henry J. Aaron
Henry J. Aaron is a senior fellow in Economic Studies at the Brookings Institution, where he holds the Bruce and Virginia MacLaury Chair. Among his many books are Can We Say No? The Challenge of Rationing Health Care , with William B. Schwartz and Melissa Cox (Brookings, 2006), and Reforming Medicare: Options,Tradeoffs, and Opportunities , written with Jeanne Lambrew (Brookings, 2008).
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