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Pension Design and Structure: New Lessons from Behavioral Finance
Author(s): Olivia S. Mitchell (Editor), Stephen P. Utkus
- Publisher: OUP Oxford
- Publication Date: 15 July 2004
- Edition: Illustrated
- Language: English
- Print length: 314 pages
- ISBN-10: 0199273391
- ISBN-13: 9780199273393
Book Description
Pension Design and Structure explores the assumptions behind commonly-held theories of retirement decision-making, in order to draw out the consequences of frontier research in behavioral finance and economics for those interested in better design and structure of retirement pensions. Using large datasets newly provided by financial service firms and real-world experiments, this volume tests the hypotheses of this research.
This is the first book to explore the implications of behavioral finance research for pensions and retirement studies. The authors blend cutting-edge research from several fields including Finance, Economics, Management, Sociology, and Psychology. The book will be of interest to pension plan participants and sponsors, financial service groups responsible for pensions, and retirement system regulators.
Editorial Reviews
Review
In a very readable way, the authors overview the whole field and offer concise conclusions for pension plan design…Overall, the book is of a very high academic standard, as one would anticipate from this series. ―
The Journal of Pension Economics and FinanceAbout the Author
Stephen P. Utkus is the Director of the Vanguard Center for Retirement Research, where he conducts and sponsors research on retirement savings and retirement benefits. His current reserach interests include attitudes and expectations regarding retirement, financial markets, and employer-sponsored retirement plans; the psychological and behavioral aspects of participant decision-making; trading and investment behavior among retirement plan participants; fiduciary issues arising from retirement programs; and global trends in public and private pension plans. Mr Utkus is a member of the advisory board of the Wharton Pension Research Council, and he is currently a Visiting Scholar at The Wharton School.
