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https://doi.org/10.21256/zhaw-28186| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Experimental research on retirement decision-making : evidence from replications |
| Authors: | Bachmann, Kremena Lot, Andre Xu, Xiaogeng Hens, Thorsten |
| et. al: | No |
| DOI: | 10.1016/j.jbankfin.2023.106851 10.21256/zhaw-28186 |
| Published in: | Journal of Banking & Finance |
| Volume(Issue): | 152 |
| Issue: | 106851 |
| Issue Date: | 2023 |
| Publisher / Ed. Institution: | Elsevier |
| ISSN: | 0378-4266 1872-6372 |
| Language: | English |
| Subjects: | Household finance; Retirement decision; Savings; Annuities; Life-cycle optimization; Income smoothing; Experiment; Replication |
| Subject (DDC): | 332: Financial economics |
| Abstract: | We adapt the design of four experimental studies on retirement decision-making and conduct replications with a larger online sample from the broader population. We replicate most of the main effects of the original studies. In particular, we confirm that consumption decisions are less efficient when subjects need to borrow from the future than when they need to save from the present. When subjects collect retirement benefits as lump sum instead of annuities, they choose to retire later, as suggested by the original study. We also confirm that savings are higher when they are incentivized with matching contributions than when incentivized with tax rebates. However, when faced with varying survival risks, subjects in our replication make only partial adjustments to spending paths when ambiguity is reduced. We also propose a further experimental research agenda in related topics and discuss practical issues on subject recruitment, attrition, and redesign of complex tasks. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/28186 |
| Related research data: | https://doi.org/10.17605/OSF.IO/JBKWZ |
| Fulltext version: | Published version |
| License (according to publishing contract): | CC BY 4.0: Attribution 4.0 International |
| Departement: | School of Management and Law |
| Organisational Unit: | Institute of Wealth & Asset Management (IWA) |
| Appears in collections: | Publikationen School of Management and Law |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| 2023_Bachmann-etal_Experimental-research-on-retirement-decision-making.pdf | 3.39 MB | Adobe PDF |  View/Open |
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Bachmann, K., Lot, A., Xu, X., & Hens, T. (2023). Experimental research on retirement decision-making : evidence from replications. Journal of Banking & Finance, 152(106851). https://doi.org/10.1016/j.jbankfin.2023.106851
Bachmann, K. et al. (2023) ‘Experimental research on retirement decision-making : evidence from replications’, Journal of Banking & Finance, 152(106851). Available at: https://doi.org/10.1016/j.jbankfin.2023.106851.
K. Bachmann, A. Lot, X. Xu, and T. Hens, “Experimental research on retirement decision-making : evidence from replications,” Journal of Banking & Finance, vol. 152, no. 106851, 2023, doi: 10.1016/j.jbankfin.2023.106851.
BACHMANN, Kremena, Andre LOT, Xiaogeng XU und Thorsten HENS, 2023. Experimental research on retirement decision-making : evidence from replications. Journal of Banking & Finance. 2023. Bd. 152, Nr. 106851. DOI 10.1016/j.jbankfin.2023.106851
Bachmann, Kremena, Andre Lot, Xiaogeng Xu, and Thorsten Hens. 2023. “Experimental Research on Retirement Decision-Making : Evidence from Replications.” Journal of Banking & Finance 152 (106851). https://doi.org/10.1016/j.jbankfin.2023.106851.
Bachmann, Kremena, et al. “Experimental Research on Retirement Decision-Making : Evidence from Replications.” Journal of Banking & Finance, vol. 152, no. 106851, 2023, https://doi.org/10.1016/j.jbankfin.2023.106851.
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