The Planning Paradox: Increased Economic Uncertainty Decreases Retirement Planning

Chiraag Mittal, University of Minnesota, USA
Vladas Griskevicius, University of Minnesota, USA
How does resource uncertainty influence people’s financial planning? Four experiments show that uncertainty has different effects depending on people’s childhood environments. Whereas cues of uncertainty did not affect planning among individuals who grew up with greater family resources, those with lower resources planned significantly less.
[ to cite ]:
Chiraag Mittal and Vladas Griskevicius (2014) ,"The Planning Paradox: Increased Economic Uncertainty Decreases Retirement Planning", in NA - Advances in Consumer Research Volume 42, eds. June Cotte and Stacy Wood, Duluth, MN : Association for Consumer Research, Pages: 184-188.