Choosing outcomes versus choosing products: Consumer-focused retirement investment advice

被引：89

作者：

Goldstein, Daniel G. ^{[1
]}

Johnson, Eric J. ^{[2
]}

Sharpe, William F. ^{[3
]}

机构：

[1] London Business Sch, London NW1 4SA, England

[2] Columbia Univ, New York, NY 10027 USA

[3] Stanford Univ, Grad Sch Business, Stanford, CA 94305 USA

来源：

JOURNAL OF CONSUMER RESEARCH | 2008年 / 35卷 / 03期

关键词：

D O I：

10.1086/589562

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Investing for retirement is one of the most consequential yet daunting decisions consumers face. We present a way to both aid and understand consumers as they construct preferences for retirement income. The method enables consumers to build desired probability distributions of wealth constrained by market forces and the amount invested. We collect desired wealth distributions from a sample of working adults, provide evidence of the technique's reliability and predictive validity, characterize individual- and cluster-level differences, and estimate parameters of risk aversion and loss aversion. We discuss how such an interactive method might help people construct more informed preferences.

引用

页码：440 / 456

页数：17

共 48 条

[1] Portfolio choice and trading in a large 401(k) plan [J].