Failures of Contingent Reasoning in Annuitization Decisions
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This paper studies psychological biases in take-up of annuities, using an incentivized experiment with a probability-based sample (N = 3,038). Choosing an annuity was payoff-maximizing in the experiment at all prices, but take-up was incomplete and price elastic. Reformulating decisions as insurance
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美国国家经济研究局创建时间：
2025-04-01
