The Psychological Impact of Annuities: Can Pension Payout Choice Influence Health Behavior?
Policy makers around the world are discussing pension systems and debating whether to encourage or mandate annuities, where retirement savings are paid out as lifelong income. We find evidence that, compared to receiving a lump-sum, receiving lifelong income where total payout increases with length of life can boost health-related behavior.
Anja Schanbacher, David Faro, Simona Botti, and Shlomo Benartzi (2018) ,"The Psychological Impact of Annuities: Can Pension Payout Choice Influence Health Behavior?", in NA - Advances in Consumer Research Volume 46, eds. Andrew Gershoff, Robert Kozinets, and Tiffany White, Duluth, MN : Association for Consumer Research, Pages: 775-776.
Anja Schanbacher, London Business School, UK
David Faro, London Business School, UK
Simona Botti, London Business School, UK
Shlomo Benartzi, University of California Los Angeles, USA
NA - Advances in Consumer Research Volume 46 | 2018
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Noah Castelo, Columbia University, USA
Kirk Kristofferson, Ivey Business School
Kelley Main, University of Manitoba, Canada
Katherine White, University of British Columbia, Canada
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John P. Costello, Ohio State University, USA
Rebecca Walker Reczek, Ohio State University, USA
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Robert Goedegebure, Wageningen University, The Netherlands
Irene Tijssen, Wageningen University, The Netherlands
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Hans van Trijp, Wageningen University, The Netherlands