Retirement Decision and Quasi-hyperbolic Discounting

Résultats de recherche: Autre contribution

Résumé

This paper examines how quasi-hyperbolic discounting affects the retirement decision. As in Salanié and Treich (2006), the two impacts of the present bias, i.e. the self-control effect and the discounting effect, are disentangled. The main results are that the self-control effect leads to early retirement while the discounting effect leads to later retirement. The impact of quasi-hyperbolic discounting on the retirement age is therefore indeterminate even though the simulation results show that the discounting effect generally dominates the self-control effect. In addition, if the agent is able to commit his retirement choice, he will avoid early retirement because the self-control effect does not play but his sophistication is not sufficient to attenuate early retirement.
langue originaleAnglais
étatNon publié - 2009

Citer ceci

@misc{6c0ddc6e548a4eddae5a579dbbb57ef5,
title = "Retirement Decision and Quasi-hyperbolic Discounting",
abstract = "This paper examines how quasi-hyperbolic discounting affects the retirement decision. As in Salani{\'e} and Treich (2006), the two impacts of the present bias, i.e. the self-control effect and the discounting effect, are disentangled. The main results are that the self-control effect leads to early retirement while the discounting effect leads to later retirement. The impact of quasi-hyperbolic discounting on the retirement age is therefore indeterminate even though the simulation results show that the discounting effect generally dominates the self-control effect. In addition, if the agent is able to commit his retirement choice, he will avoid early retirement because the self-control effect does not play but his sophistication is not sufficient to attenuate early retirement.",
author = "Vincent Frogneux",
year = "2009",
language = "English",
type = "Other",

}

Retirement Decision and Quasi-hyperbolic Discounting. / Frogneux, Vincent.

2009, .

Résultats de recherche: Autre contribution

TY - GEN

T1 - Retirement Decision and Quasi-hyperbolic Discounting

AU - Frogneux, Vincent

PY - 2009

Y1 - 2009

N2 - This paper examines how quasi-hyperbolic discounting affects the retirement decision. As in Salanié and Treich (2006), the two impacts of the present bias, i.e. the self-control effect and the discounting effect, are disentangled. The main results are that the self-control effect leads to early retirement while the discounting effect leads to later retirement. The impact of quasi-hyperbolic discounting on the retirement age is therefore indeterminate even though the simulation results show that the discounting effect generally dominates the self-control effect. In addition, if the agent is able to commit his retirement choice, he will avoid early retirement because the self-control effect does not play but his sophistication is not sufficient to attenuate early retirement.

AB - This paper examines how quasi-hyperbolic discounting affects the retirement decision. As in Salanié and Treich (2006), the two impacts of the present bias, i.e. the self-control effect and the discounting effect, are disentangled. The main results are that the self-control effect leads to early retirement while the discounting effect leads to later retirement. The impact of quasi-hyperbolic discounting on the retirement age is therefore indeterminate even though the simulation results show that the discounting effect generally dominates the self-control effect. In addition, if the agent is able to commit his retirement choice, he will avoid early retirement because the self-control effect does not play but his sophistication is not sufficient to attenuate early retirement.

M3 - Other contribution

ER -