Saving behavior in retirement when life horizon is uncertain

Itzhak Zilcha; Joseph Friedman

doi:10.1016/0165-1765(85)90128-4

Saving behavior in retirement when life horizon is uncertain

Itzhak Zilcha^*
, Joseph Friedman

^*Corresponding author for this work

School of Economics

Johns Hopkins University
Tel Aviv University

Research output: Contribution to journal › Article › peer-review

8 Scopus citations

Abstract

We try to explain some recent empirical observations that retired people continue to save in retirement for several years, a behavior which seems to contradict the life-cycle hypothesis. We show that such a behavior is consistent if individuals become more 'optimistic' about their life probability distribution or if individuals become more risk-averse as they age.

Original language	English
Pages (from-to)	63-66
Number of pages	4
Journal	Economics Letters
Volume	17
Issue number	1-2
DOIs	https://doi.org/10.1016/0165-1765(85)90128-4
State	Published - 1985

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title = "Saving behavior in retirement when life horizon is uncertain",

abstract = "We try to explain some recent empirical observations that retired people continue to save in retirement for several years, a behavior which seems to contradict the life-cycle hypothesis. We show that such a behavior is consistent if individuals become more 'optimistic' about their life probability distribution or if individuals become more risk-averse as they age.",

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AB - We try to explain some recent empirical observations that retired people continue to save in retirement for several years, a behavior which seems to contradict the life-cycle hypothesis. We show that such a behavior is consistent if individuals become more 'optimistic' about their life probability distribution or if individuals become more risk-averse as they age.

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Saving behavior in retirement when life horizon is uncertain

Abstract

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