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Risk management of pensions from the perspective of loss aversion

Listed author(s):
  • Binswanger, Johannes

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File URL: http://www.sciencedirect.com/science/article/pii/S0047-2727(06)00141-1
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Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 91 (2007)
Issue (Month): 3-4 (April)
Pages: 641-667

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Handle: RePEc:eee:pubeco:v:91:y:2007:i:3-4:p:641-667
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505578

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  1. Gary Burtless, 2003. "What Do We Know About the Risk of Individual Account Pensions? Evidence from Industrial Countries," American Economic Review, American Economic Association, vol. 93(2), pages 354-359, May.
  2. Eeckhoudt, Louis & Gollier, Christian, 2001. "Are Independent Optimal Risks Substitutes?," IDEI Working Papers 128, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Martin Feldstein & Jeffrey Liebman, 2000. "The Distributional Effects of an Investment-Based Social Security System," NBER Working Papers 7492, National Bureau of Economic Research, Inc.
  4. David I. Laibson & Andrea Repetto & Jeremy Tobacman, 1998. "Self-Control and Saving for Retirement," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 91-196.
  5. John Genakoplos & Olivia S. Mitchell & Stephen P. Zeldes, 2000. "Would a Privatized Social Security System Really Pay a Higher Rate of Return," NBER Working Papers 6713, National Bureau of Economic Research, Inc.
  6. Michael Haliassos & Christis Hassapis, 1997. "Non-expected Utility, Saving, and Portfolios," Macroeconomics 9709003, EconWPA, revised 11 Apr 1998.
  7. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1039-1061.
  8. John Y. Campbell & João F. Cocco & Francisco J. Gomes & Pascal J. Maenhout, 2001. "Investing Retirement Wealth: A Life-Cycle Model," NBER Chapters, in: Risk Aspects of Investment-Based Social Security Reform, pages 439-482 National Bureau of Economic Research, Inc.
  9. James M. Poterba, 2004. "Portfolio risk and self-directed retirement saving programmes," Economic Journal, Royal Economic Society, vol. 114(494), pages 26-51, 03.
  10. Francisco Gomes & Alexander Michaelides, 2003. "Optimal life-cycle asset allocation: understanding the empirical evidence," LSE Research Online Documents on Economics 24900, London School of Economics and Political Science, LSE Library.
  11. Larry Epstein & Martin Schneider, 2006. "Learning Under Ambiguity," RCER Working Papers 527, University of Rochester - Center for Economic Research (RCER).
  12. Robert J. Shiller, 2005. "The Life-Cycle Personal Accounts Proposal for Social Security: An Evaluation," Cowles Foundation Discussion Papers 1504, Cowles Foundation for Research in Economics, Yale University.
  13. David Backus & Bryan Routledge & Stanley Zin, 2004. "Exotic Preferences for Macroeconomists," NBER Working Papers 10597, National Bureau of Economic Research, Inc.
  14. James Poterba & Joshua Rauh & Steven Venti & David Wise, 2003. "Utility Evaluation of Risk in Retirement Saving Accounts," NBER Working Papers 9892, National Bureau of Economic Research, Inc.
  15. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
  16. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
  17. Ang, Andrew & Bekaert, Geert & Liu, Jun, 2005. "Why stocks may disappoint," Journal of Financial Economics, Elsevier, vol. 76(3), pages 471-508, June.
  18. Karen E. Dynan & Jonathan Skinner & Stephen P. Zeldes, 2004. "Do the Rich Save More?," Journal of Political Economy, University of Chicago Press, vol. 112(2), pages 397-444, April.
  19. Marianne Baxter & Robert G. King, 2001. "The Role of International Investment in a Privatized Social Security System," NBER Chapters, in: Risk Aspects of Investment-Based Social Security Reform, pages 371-438 National Bureau of Economic Research, Inc.
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