Reports from London School of Economics and Political Science (LSE) Advance Knowledge in Economic Behavior and Organization (Behavioral Regularities In Old Age Planning)

2020 JUN 12 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- Current study results on Economics - Economic Behavior and Organization have been published. According to news originating from London, United Kingdom, by NewsRx correspondents, research stated, “Planning for old age needs involves ‘high stakes’ decisions such as the choice of a retirement plan, generic saving and investment decisions alongside the take up of insurance for long-term care. We argue that these individual decisions are formed upon limited information and, result from beliefs about future needs that are often not well understood.”

Our news journalists obtained a quote from the research from the London School of Economics and Political Science (LSE), “This paper provides an overview of a number of behavioral ‘regularities’ that illustrate areas where traditional economic approaches should include behavioral economic explanations to better understand and describe decisions for old age. These include the role of framing and reference points, the effects of misperception and behavioral learning, as well as the role of several biases such as optimism, present bias and overconfidence.”

According to the news editors, the research concluded: “We contend that choice architectures that incorporate such regularities can help making old age decisions.”

For more information on this research see: Behavioral Regularities In Old Age Planning. Journal of Economic Behavior & Organization, 2020;173():297-300. Journal of Economic Behavior & Organization can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands. (Elsevier - www.elsevier.com; Journal of Economic Behavior & Organization - http://www.journals.elsevier.com/journal-of-economic-behavior-and-organization/)

The news correspondents report that additional information may be obtained from J. Costa-Font, London School of Economics and Political Science (LSE), Dept. of Health Policy, London, United Kingdom.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.jebo.2019.11.015. 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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