RAND Behavioral Finance Webinar

Perceived Ownership, Patience, and Loss Aversion in the Psychology of Social Security Claiming Decisions

Suzanne Shu, John W. Payne, Namika Sagara

VideoPublished Jan 9, 2015

This talk provides an overview of research that seeks to better understand the psychological processes underlying Social Security claiming decisions. The research shows that claiming decisions are affected by subjective judgments of life expectation as well as psychological measures of loss aversion, patience, and perceived ownership. Findings provide important insights for the design of interventions for optimal individual retirement decisions.

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Shu, Suzanne, John W. Payne, and Namika Sagara, RAND Behavioral Finance Webinar: Perceived Ownership, Patience, and Loss Aversion in the Psychology of Social Security Claiming Decisions. Santa Monica, CA: RAND Corporation, 2015. https://www.rand.org/pubs/presentations/PT136.html.
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