Why Don't People Insure Late Life Consumption: A Framing Explanation of the Under-Annuitization Puzzle
收藏NBER2008-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13748
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资源简介：
Rational models of risk-averse consumers have difficulty explaining limited annuity demand. We posit that consumers evaluate annuity products using a narrow "investment frame" that focuses on risk and return, rather than a "consumption frame" that considers the consequences for lifelong consumption.
提供机构：
美国国家经济研究局
创建时间：
2008-01-01
