New Behavioral and Experimental Economics Findings from Babes-Bolyai University Reported (From Intention To Decision In Purchasing Life Insurance and Private Pensions: Different Effects of Knowledge and Behavioural Factors)

2020 NOV 09 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Researchers detail new data in Economics - Behavioral and Experimental Economics. According to news reporting originating from Cluj-Napoca, Romania, by NewsRx correspondents, research stated, “In this paper, we test several hypotheses about the influence of behavioural and socio-demographic factors on buying a life insurance policy or a private pension. Data were gathered from a sample of 1579 individuals, representative of Romanian consumers.”

Financial support for this research came from Romanian National Authority for Scientific Research and Innovation, CNCS - UEFISCDI.

Our news editors obtained a quote from the research from Babes-Bolyai University, “We designed a questionnaire that emphasizes five distinct categories of determinants: economic factors, socio-demographic factors, general behavioural factors, specific behavioural factors, and a self-constructed index of insurance knowledge. Using logit regression models, we highlight a different mechanism that emphasizes the association between the intention and decision for life insurance and private pensions and its determinants.”

According to the news editors, the research concluded: “We show that specific behavioural factors and insurance knowledge are highly significant for the decision to buy, but not for the intention to buy, for both types of products.”

This research has been peer-reviewed.

For more information on this research see: From Intention To Decision In Purchasing Life Insurance and Private Pensions: Different Effects of Knowledge and Behavioural Factors. Journal of Behavioral and Experimental Economics, 2020;87. Journal of Behavioral and Experimental Economics can be contacted at: Elsevier Science Inc, Ste 800, 230 Park Ave, New York, NY 10169, USA.

The news editors report that additional information may be obtained by contacting Simona Laura Dragos, Babes-Bolyai University, Faculty of Economics and Business Administration, Dept. of Finance, 58-60 Teodor Mihali St, Room 317, Cluj Napoca 400591, Romania. Additional authors for this research include Gabriela Mihaela Muresan and Cristian Mihai Dragos.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.socec.2020.101555. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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