Abstract

The spread of defined contribution pension plans and the possibility of individual accounts for Social Security make financial security in retirement ever more likely to depend on good asset allocation and portfolio choices. The HRS provides unparalleled data not only on portfolio behavior, but also on a wide range of things that might influence portfolio behavior?both those that are featured in traditional economic theories of portfolio choice (such as risk tolerance and rate of return expectations) and those that behavioral economists suggest might matter despite being absent from traditional theories.
The aim of this project is to identify what, in fact, governs cross-sectional difference in portfolio choice. Identifying the factors that govern portfolio choice will help us determine whether people's financial investment decisions can be improved in order to provide for greater financial security toward the end of life.

  Funding Agency

Agency
National Institute of Health (NIH)
Institute
National Institute on Aging (NIA)
Type
Research Program Projects (P01)
Project #
5P01AG026571-03
Application #
7459775
Study Section
Special Emphasis Panel (ZAG1)
Project Start
Project End
Budget Start
2007-07-01
Budget End
2008-06-30
Support Year
3
Fiscal Year
2007
Total Cost
$51,334
Indirect Cost

  Institution

Name
University of Michigan Ann Arbor
Department
Type
DUNS #
073133571
City
Ann Arbor
State
MI
Country
United States
Zip Code
48109

  Publications

Bruine de Bruin, Wändi; Carman, Katherine G (2018) Measuring Subjective Probabilities: The Effect of Response Mode on the Use of Focal Responses, Validity, and Respondents' Evaluations. Risk Anal 38:2128-2143
Gideon, Michael; Helppie-McFall, Brooke; Hsu, Joanne W (2017) Heaping at Round Numbers on Financial Questions: The Role of Satisficing. Surv Res Methods 11:189-214
Helppie-McFall, Brooke; Hsu, Joanne W (2017) A Test of Web and Mail Mode Effects in a Financially Sensitive Survey of Older Americans. J Econ Soc Meas 42:151-169
Aufderheide, K J (2016) Refinements of and commentary on the silver staining techniques of Fernández-Galiano. Biotech Histochem 91:352-6
Hsu, Joanne W (2016) Aging and Strategic Learning: The Impact of Spousal Incentives on Financial Literacy. J Hum Resour 51:1036-1067
Delavande, Adeline; Manski, Charles F (2015) Using Elicited Choice Probabilities in Hypothetical Elections to Study Decisions to Vote. Elect Stud 38:28-37
Kimball, Miles (2015) COGNITIVE ECONOMICS. Jpn Econ Rev (Oxf) 66:167-181
Levy, Helen; Janke, Alexander T; Langa, Kenneth M (2015) Health literacy and the digital divide among older Americans. J Gen Intern Med 30:284-9
Benjamin, Daniel J (2015) Distributional Preferences, Reciprocity-Like Behavior, and Efficiency in Bilateral Exchange. Am Econ J Microecon 7:70-98
Delaney, Rebecca; Strough, JoNell; Parker, Andrew M et al. (2015) Variations in Decision-Making Profiles by Age and Gender: A Cluster-Analytic Approach. Pers Individ Dif 85:19-24

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