Investment Decisions for Retirement Savings

被引：10

作者：

Bateman, Hazel ^{[1
]}

Louviere, Jordan ^{[2
]}

Thorp, Susan ^{[3
]}

Islam, Towhidul ^{[4
]}

Satchell, Stephen ^{[5
]}

机构：

[1] Univ New S Wales, Australian Sch Business, Ctr Pens & Superannuat, Sydney, NSW 2052, Australia

[2] Univ Technol Sydney, Ctr Study Choice, Sydney, NSW 2007, Australia

[3] Univ Technol Sydney, Sch Finance & Econ, Sydney, NSW 2007, Australia

[4] Univ Guelph, Guelph, ON N1G 2W1, Canada

[5] Univ Cambridge, Trinity Coll, Cambridge CB2 1TN, England

来源：

JOURNAL OF CONSUMER AFFAIRS | 2010年 / 44卷 / 03期

关键词：

401(K) PLANS; STRATEGIES; CHOICE;

D O I：

10.1111/j.1745-6606.2010.01178.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We conducted a choice experiment to investigate whether retirement savers follow simple portfolio theory when choosing investments. We modeled experimental survey data on 693 participants using a scale-adjusted version of the latent class choice model. Results show that underlying variability in response was explained by age and "risk profile" score and that preferences varied with income and age. Younger individuals were conventionally risk averse, but older, higher-income individuals may react positively to both higher returns and increasing risk, when risk is presented as widening ranges of possible outcomes. Respondents tended to choose among a few similar investment options.

引用

页码：463 / 482

页数：20

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