Do you look forward to retirement? Motivational biases in pension decisions

This research examines the relationship between positive and negative perceptions of pensions and motivation to engage in the decision process of choosing a private pension plan, as well as satisfaction from the chosen pension plan, among trained economists. A sample of 134 economists completed a se...

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Main Authors: Tehila Kogut, Momi Dahan
Format: Article
Language:English
Published: Society for Judgment and Decision Making 2012-05-01
Series:Judgment and Decision Making
Subjects:
Online Access:http://journal.sjdm.org/12/12215a/jdm12215a.pdf
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spelling doaj-2899b561dcc04d3caa4094c1f5ace39a2021-05-02T03:22:38ZengSociety for Judgment and Decision MakingJudgment and Decision Making1930-29752012-05-0173282291Do you look forward to retirement? Motivational biases in pension decisionsTehila KogutMomi DahanThis research examines the relationship between positive and negative perceptions of pensions and motivation to engage in the decision process of choosing a private pension plan, as well as satisfaction from the chosen pension plan, among trained economists. A sample of 134 economists completed a self-report survey examining the decision process of different decision contexts in life, including pension decisions. Overall, participants showed low motivation to engage in the process of choosing a private pension plan, compared to their motivation to engage in other decision tasks. However, economists invested more in the decision process and showed greater satisfaction from their decision regarding their pension plan when they had a more positive perception of pensions. This perception is represented by higher subjective likelihood of receiving pension allowances for a long period, and by a profitable view of the balance between current payments and expected incomes from pension saving. Key words: Pension decisions, subjective perceptions, motivational biases.http://journal.sjdm.org/12/12215a/jdm12215a.pdfThis research examines the relationship between positive and negativeperceptions of pensions and motivation to engage in the decisionprocess of choosing a private pension planas well as satisfactionfrom the chosen pension planamong trained economists. A sample of134 economists completed a self-report survey examining the decisionprocess of different decision contexts in lifeincluding pensiondecisions. Overallparticipants showed low motivation to engage inthe process of choosing a private pension plancompared to theirmotivation to engage in other decision tasks. Howevereconomistsinvested more in the decision process and showed greater satisfactionfrom their decision regarding their pension plan when they had a morepositive perception of pensions. This perception is represented byhigher subjective likelihood of receiving pension allowances for along periodand by a profitable view of the balance between currentpayments and expected incomes from pension saving.Key words
collection DOAJ
language English
format Article
sources DOAJ
author Tehila Kogut
Momi Dahan
spellingShingle Tehila Kogut
Momi Dahan
Do you look forward to retirement? Motivational biases in pension decisions
Judgment and Decision Making
This research examines the relationship between positive and negativeperceptions of pensions and motivation to engage in the decisionprocess of choosing a private pension plan
as well as satisfactionfrom the chosen pension plan
among trained economists. A sample of134 economists completed a self-report survey examining the decisionprocess of different decision contexts in life
including pensiondecisions. Overall
participants showed low motivation to engage inthe process of choosing a private pension plan
compared to theirmotivation to engage in other decision tasks. However
economistsinvested more in the decision process and showed greater satisfactionfrom their decision regarding their pension plan when they had a morepositive perception of pensions. This perception is represented byhigher subjective likelihood of receiving pension allowances for along period
and by a profitable view of the balance between currentpayments and expected incomes from pension saving.Key words
author_facet Tehila Kogut
Momi Dahan
author_sort Tehila Kogut
title Do you look forward to retirement? Motivational biases in pension decisions
title_short Do you look forward to retirement? Motivational biases in pension decisions
title_full Do you look forward to retirement? Motivational biases in pension decisions
title_fullStr Do you look forward to retirement? Motivational biases in pension decisions
title_full_unstemmed Do you look forward to retirement? Motivational biases in pension decisions
title_sort do you look forward to retirement? motivational biases in pension decisions
publisher Society for Judgment and Decision Making
series Judgment and Decision Making
issn 1930-2975
publishDate 2012-05-01
description This research examines the relationship between positive and negative perceptions of pensions and motivation to engage in the decision process of choosing a private pension plan, as well as satisfaction from the chosen pension plan, among trained economists. A sample of 134 economists completed a self-report survey examining the decision process of different decision contexts in life, including pension decisions. Overall, participants showed low motivation to engage in the process of choosing a private pension plan, compared to their motivation to engage in other decision tasks. However, economists invested more in the decision process and showed greater satisfaction from their decision regarding their pension plan when they had a more positive perception of pensions. This perception is represented by higher subjective likelihood of receiving pension allowances for a long period, and by a profitable view of the balance between current payments and expected incomes from pension saving. Key words: Pension decisions, subjective perceptions, motivational biases.
topic This research examines the relationship between positive and negativeperceptions of pensions and motivation to engage in the decisionprocess of choosing a private pension plan
as well as satisfactionfrom the chosen pension plan
among trained economists. A sample of134 economists completed a self-report survey examining the decisionprocess of different decision contexts in life
including pensiondecisions. Overall
participants showed low motivation to engage inthe process of choosing a private pension plan
compared to theirmotivation to engage in other decision tasks. However
economistsinvested more in the decision process and showed greater satisfactionfrom their decision regarding their pension plan when they had a morepositive perception of pensions. This perception is represented byhigher subjective likelihood of receiving pension allowances for along period
and by a profitable view of the balance between currentpayments and expected incomes from pension saving.Key words
url http://journal.sjdm.org/12/12215a/jdm12215a.pdf
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