Through our Center on Financial and Economic Decisionmaking (CFED), RAND researchers study how individuals and families make financial decisions and examine how public policy can be leveraged to help improve financial stability.
The decrease in defined benefit pension plans use, coupled with an increase in the life span, is shaping how individuals plan financially for their retirement. CFED researchers investigate how households save for retirement, invest their savings, and spend down their assets in retirement.
CFED researchers design, implement, and evaluate interventions targeted at helping individuals build savings, improve credit, reduce debt, and strengthen financial literacy and capability.
The RAND Behavioral Finance Forum is an annual conference and webinar series for federal government, academic, and industry leaders on behavioral finance topics such as retirement security, consumer financial protection, and financial advice.
Explores gaps in financial knowledge and the overall state of financial literacy of college students.
Improved measurement of people's probability judgments should benefit probability elicitation efforts relevant to risk analysis, decision making, and risk communication.
Examines the relative roles of cognitive ability and financial literacy, and decline in cognitive ability, in influencing retirement-related financial behaviors, such as retirement saving and the decumulation of wealth.
Considers the implications of divorce on retirement security.
This study explores the influences of retirement planning and saving behavior among urban, low-income, middle-aged and older Hispanics.
Study of health effects of financial inclusion, particularly ownership of a bank account of older minorities, with focus on Hispanics.
The research looks at health insurance plans chosen by employees at a Fortune 500 company once they were allowed to configure their own plans.
This paper utilizes data on subjective probabilities to study the impact of the stock market crash of 2008 on households' expectations about the returns on the stock market index.
This paper investigates the degree to which the timing of payments affects behavior in four commonly studied strategic settings: a Prisoners' Dilemma, a Stag-Hunt Game, a First Price Auction, and a Second Price Auction.
We review previous experiments that have directly manipulated cognitive load and summarize their findings.
This paper uses controlled laboratory experiments to explore how the timing of prize payment impacts behavior in a contest with a unique Nash equilibrium strategy.
