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A nudge to quit? The effect of a change in pension information on annuitization, labor supply and retirement choices among older workers
Jönköping University, Jönköping International Business School, JIBS, Economics.ORCID iD: 0000-0003-3093-726x
2018 (English)Report (Other academic)
Abstract [en]

Nudge is about affecting behavior in a certain way through small changes to the choice architecture. However, a nudge may also affect behaviors that the architect did not intend. We show that such spillover effects exist in a highly policy relevant context where the use of nudge is widespread; retirement. Specifically, we find that an exogenous application form change in the Swedish pension system that highlighted a five-year payout on the expense of a life annuity not only increased the demand for the nudged payout (as expected), but also induced individuals to retire earlier. We attribute the effects to decision-framing.

Place, publisher, year, edition, pages
Maastricht: Global Labor Organization , 2018. , p. 37
Series
GLO Discussion Paper ; 209
Keywords [en]
annuity, pension, nudge, decision framing
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-41248OAI: oai:DiVA.org:hj-41248DiVA, id: diva2:1241983
Available from: 2018-08-27 Created: 2018-08-27 Last updated: 2018-08-27Bibliographically approved

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Hagen, Johannes

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CiteExportLink to record
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Citation style
  • apa
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Output format
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