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Multiple information search and employee participation in occupational pension plans

  • Johansen, Kathrin
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    Multiple searches for information can increase individual participation in occupational pension programs. This paper tests hypotheses derived from transaction cost theory and search theory to explain the formation of information networks on pensions. Using a dataset representative of the German population, we empirically investigate the determinants of network formation with respect to information about occupational pensions. We find that transaction costs, provision of information by the employer, quality of the intermediary, and subjective concern with this topic increase willingness to participate in a network and increase the number of network partners.

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    File URL: http://econstor.eu/bitstream/10419/39764/1/621443077.pdf
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    Paper provided by University of Rostock, Institute of Economics in its series Thuenen-Series of Applied Economic Theory with number 114.

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    Date of creation: 2010
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    Handle: RePEc:zbw:roswps:114
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    1. Stefan Dercon & Joachim De Weerdt, 2002. "Risk-sharing Networks and Insurance against illness," Economics Series Working Papers WPS/2002-16, University of Oxford, Department of Economics.
    2. de Janvry, Alain & Sadoulet, Elisabeth & Winters, Paul C. & Murgai, Rinku, 2000. "Localized and Incomplete Mutual Insurance," Working Papers 12905, University of New England, School of Economics.
    3. Jappelli, Tullio & Pagano, Marco, 1991. "Information Sharing in Credit Markets," CEPR Discussion Papers 579, C.E.P.R. Discussion Papers.
    4. Giucca, P. & Jappelli, T. & Terlizzese, D., 1992. "Earning Uncertainty and Precautionary Saving," Papers 161, Banca Italia - Servizio di Studi.
    5. Marcel Fafchamps & Flore Gubert, 2005. "The Formation of Risk Sharing Networks," Economics Series Working Papers GPRG-WPS-037, University of Oxford, Department of Economics.
    6. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
    7. Fikret Adaman & Oya Pinar Ardic & Didem Tuzemen, 2006. "Network Effects in Risk Sharing and Credit Market Access: Evidence from Istanbul," Working Papers 2006/17, Bogazici University, Department of Economics.
    8. Angela A. Hung & Joanne Yoong, 2010. "Asking for Help: Survey And Experimental Evidence on Financial Advice And Behavior Change," Working Papers 714-1, RAND Corporation Publications Department.
    9. Angela A. Hung & Erik Meijer & Kata Mihaly & Joanne Yoong, 2009. "Building Up, Spending Down: Financial Literacy, Retirement Savings Management, and Decumulation," Working Papers 712, RAND Corporation Publications Department.
    10. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, March.
    11. Diamond, Douglas W, 1984. "Financial Intermediation and Delegated Monitoring," Review of Economic Studies, Wiley Blackwell, vol. 51(3), pages 393-414, July.
    12. Andreas Oehler & Christina Werner, 2008. "Saving for Retirement—A Case for Financial Education in Germany and UK? An Economic Perspective," Journal of Consumer Policy, Springer, vol. 31(3), pages 253-283, September.
    13. Hirshleifer, Jack, 1971. "The Private and Social Value of Information and the Reward to Inventive Activity," American Economic Review, American Economic Association, vol. 61(4), pages 561-74, September.
    14. David McCarthy, 2006. "The Rationale for Occupational Pensions," Oxford Review of Economic Policy, Oxford University Press, vol. 22(1), pages 57-65, Spring.
    15. Meijboom, Bert & de Haan, Job & Verheyen, Piet, 2004. "Networks for integrated care provision: an economic approach based on opportunism and trust," Health Policy, Elsevier, vol. 69(1), pages 33-43, July.
    16. Dummann, Kathrin, 2008. "What determines supply and demand for occupational pensions in Germany?," Journal of Pension Economics and Finance, Cambridge University Press, vol. 7(02), pages 131-156, July.
    17. Kohn, Meir G. & Shavell, Steven, 1974. "The theory of search," Journal of Economic Theory, Elsevier, vol. 9(2), pages 93-123, October.
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