Published in:2018 Academic Research Colloquium for Financial Planning and Related Disciplines
Extent:
1 Online-Ressource (22 p)
Language:
English
DOI:
10.2139/ssrn.3041624
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 27, 2018 erstellt
Description:
This paper analyzes the effect of framing on the stated demand for longevity annuities. We test whether longevity income framed as “insurance” is more attractive than longevity income framed as an “annuity,” since longevity income is consumption protection. In a sample of 1,425 respondents, we find that when the longevity insurance frame is shown before the longevity annuity frame, respondents are less likely to state a demand for a longevity annuity. In addition, we find that people with higher numeracy are less likely to succumb to longevity income framing effects