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Time inconsistency and retirement planning |
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| Authors: | Frank N. Caliendo T. Scott Findley |
| Affiliation: | 1. Department of Economics and Finance, Jon M. Huntsman School of Business, Utah State University, 3565 Old Main Hill, Logan, UT 84322-3565, USA;2. Netspar, Tilburg, The Netherlands |
| Abstract: | We quantify the welfare gains from better retirement planning using a model in which retirement planning is time inconsistent. A modest increase in a household’s planning horizon by just a few years generates large aggregate and individual welfare gains. |
| Keywords: | C61 D03 D91 H55 |
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