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

Tehila Kogut, Momi Dahan

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

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.

Original languageEnglish
Pages (from-to)282-291
Number of pages10
JournalJudgment and Decision Making
Volume7
Issue number3
StatePublished - 1 May 2012

Keywords

  • Motivational biases
  • Pension decisions
  • Subjective perceptions

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