Time Perception and Retirement Saving: Lessons from Behavioral Decision Research
Related Collections
Degree type
Discipline
Subject
Funder
Grant number
License
Copyright date
Distributor
Author
Contributor
Abstract
This chapter provides a behavioral decision perspective on the implications of intertemporal choice research for retirement savings. In particular, we focus on two cognitive mechanisms explaining how and why future monetary outcomes are discounted: (1) changes in the perception of delayed outcomes due to changes in mental representations and perceived slack, and (2) changes in the perception of temporal distance to delayed outcomes. Relevant recent findings are reviewed and the implications for retirement savings are discussed.
Advisor
Date Range for Data Collection (Start Date)
Date Range for Data Collection (End Date)
Digital Object Identifier
Series name and number
Publication date
Volume number
Issue number
Publisher
Publisher DOI
Comments
The published version of this Working Paper may be found in the 2011 publication: Financial Literacy: Implications for Retirement Security and the Financial Marketplace http://pensionresearchcouncil.wharton.upenn.edu/publications/books/financial-literacy-implications-for-retirement-security-and-the-financial-marketplace/).