IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Le scelte di pensionamento in Italia: un'applicazione (ed estensione) del modello Option Value

Listed author(s):
  • Luca Spataro

Le scelte di pensionamento in Italia: un'applicazione (ed estensione) del modello Option Value (di Luca Spataro) - ABSTARCT: Using the Bank of Italy Survey on the Budget of Italian Households, we adopt the "Option Value" framework to estimate the determinants of retirement choices of the Italian male employees. We find that the model improves the likelihood of the estimations if compared with some Probit models. However, evidence of a "puzzle" involving excess of retirement at age 60 is produced as well. The results suggest that Italians are relatively more risk averse, more patient and more "leisure adamants" than American workers. Finally, a theoretical extension is presented whereby we can obtain a prediction of the retirement age expectations: some tests carried out over the actual and the predicted distributions of the expected retirement ages show that the extended-model fitting improves when older individuals are progressively selected, leading to the conclusion that the decision of retiring is probably "rationally" assessed and taken only after a certain age. JEL Classification: J26, D84

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: Single articles can be downloaded buying download credits, for info:

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by FrancoAngeli Editore in its journal STUDI ECONOMICI.

Volume (Year): 2000/72 (2000)
Issue (Month): 72 ()

in new window

Handle: RePEc:fan:steste:v:html10.3280/ste2000-072002
Contact details of provider: Web page:

Order Information: Web: Email:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:fan:steste:v:html10.3280/ste2000-072002. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angelo Ventriglia)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.