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The Second Attempt Made the Difference

The Second Attempt Made the Difference

Why Don't People Insure Late Life Consumption in the United States?

Jeffrey Brown
Jeffrey Kling
Marian Wrobel
Researchers evaluated the effect of the framing of potential investment options on people's investment in life annuities. They found that individuals were more likely to prefer an annuity when their options emphasized future consumption, rather than framing options in terms of investments. These...