Psychological Factors in Savings and Decumulation Decisions

Suzanne Shu, University of California Los Angeles, USA
John Payne, Duke University, USA
We present four studies designed to better understand decumulation decisions, including Social Security claiming, by manipulating framing of life expectations judgments as well as by measuring individual differences in loss aversion, intertemporal patience, and perceived ownership. Life expectations predict decumulation intentions more strongly when collected in a live-to frame.
[ to cite ]:
Suzanne Shu and John Payne (2015) ,"Psychological Factors in Savings and Decumulation Decisions", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 136-141.