Investment decisions for retirement savings

Bateman, H; Louviere, J; Thorp, S; Islam, T; Satchell, S

Investment decisions for retirement savings

Bateman, H Louviere, J Thorp, S

Islam, T Satchell, S

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Publication Type:: Journal Article
Citation:: Journal of Consumer Affairs, 2010, 44 (3), pp. 463 - 482
Issue Date:: 2010-09-01

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Field	Value	Language
dc.contributor.author	Bateman, H	en_US
dc.contributor.author	Louviere, J	en_US
dc.contributor.author	Thorp, S https://orcid.org/0000-0003-3462-0876	en_US
dc.contributor.author	Islam, T	en_US
dc.contributor.author	Satchell, S	en_US
dc.date.issued	2010-09-01	en_US
dc.identifier.citation	Journal of Consumer Affairs, 2010, 44 (3), pp. 463 - 482	en_US
dc.identifier.issn	0022-0078	en_US
dc.identifier.uri	http://hdl.handle.net/10453/14030
dc.description.abstract	We conducted a choice experiment to investigate whether retirement savers follow simple portfolio theory when choosing investments. We modeled experimental survey data on 693 participants using a scale-adjusted version of the latent class choice model. Results show that underlying variability in response was explained by age and " risk profile" score and that preferences varied with income and age. Younger individuals were conventionally risk averse, but older, higher-income individuals may react positively to both higher returns and increasing risk, when risk is presented as widening ranges of possible outcomes. Respondents tended to choose among a few similar investment options. Copyright 2010 by The American Council on Consumer Interests.	en_US
dc.relation	http://purl.org/au-research/grants/arc/DP0877219
dc.relation.ispartof	Journal of Consumer Affairs	en_US
dc.relation.isbasedon	10.1111/j.1745-6606.2010.01178.x	en_US
dc.subject.classification	Marketing	en_US
dc.title	Investment decisions for retirement savings	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	44	en_US
utslib.for	1505 Marketing	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Strength - CENSOC - Study of Choice
utslib.copyright.status	open_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	44	en_US

Abstract:

We conducted a choice experiment to investigate whether retirement savers follow simple portfolio theory when choosing investments. We modeled experimental survey data on 693 participants using a scale-adjusted version of the latent class choice model. Results show that underlying variability in response was explained by age and " risk profile" score and that preferences varied with income and age. Younger individuals were conventionally risk averse, but older, higher-income individuals may react positively to both higher returns and increasing risk, when risk is presented as widening ranges of possible outcomes. Respondents tended to choose among a few similar investment options. Copyright 2010 by The American Council on Consumer Interests.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/14030