RT Journal Article
SR Electronic
T1 Practical Applications of Standard and Behavioral Life-Cycle Theories and Public Policy
JF Practical Applications
FD Institutional Investor Journals
SP 1
OP 4
DO 10.3905/pa.6.3.303
VO 6
IS 3
A1 Meir Statman
YR 2019
UL https://pm-research.com/content/6/3/1.9.abstract
AB In Standard and Behavioral Life-Cycle Theories and Public Policy, from the Fall 2017 issue of The Journal of Retirement, author Meir Statman, a professor of finance at Santa Clara University, contrasts two different approaches to understanding how people think about saving and spending over their lifetimes. Standard life-cycle theory assumes a smooth, conflict-free approach toward money. In contrast, behavioral life-cycle theory allows for a range of utilitarian, expressive, and emotional attitudes. People can benefit from third-party assistance by financial advisors and public policy to come up with a balanced plan.TOPICS: Retirement, in wealth management, social security, legal/regulatory/public policy