Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 9, 2013 erstellt
Description:
Declining welfare systems increase the importance of self-determination in pension decisions. Thus, the stability of long-life consumptions markedly relies on the individual long-range planning attitude. Our paper investigates how behavioural components affect this attitude, by observing in which conditions individuals hold voluntary integrative pension schemes (VIPS). We find that psychological and psycho-physiological heterogeneity, together with saving/indebtedness behaviours, plays a relevant role in predicting the demand for VIPS, taking socio-demographical variables under control. Subjects with high degree of impulsivity, precisely a non-planning impulsiveness, and with high emotional reactions, in terms of somatic response to events, are less likely to demand for VIPS. Our results implicate that behavioural features might bring individuals to lack integrative resources able to maintain stable lifestyles in the long-range