Jeffrey R. Brown|Arie Kapteyn|Olivia S. Mitchell
F<scp>RAMING AND</scp> C<scp>LAIMING</scp>: H<scp>OW</scp> I<scp>NFORMATION</scp>?<scp>F</scp><scp>RAMING</scp> A<scp>FFECTS</scp> E<scp>XPECTED</scp> S<scp>OCIAL</scp> S<scp>ECURITY</scp> C<scp>LAIMING</scp> B<scp>EHAVIOR</scp>
University of Illinois Urbana-Champaign|University of Southern California|University of Pennsylvania
abstract article provides evidence social security benefit claiming decisions strongly affected framing thus inconsistent expected utility theory using randomized experiment controls observable unobservable differences across individuals find use breakeven analysis encourages early claiming respondents likely delay later claiming framed gain claiming age anchored older ages additionally financially less literate individuals credit card debt lower earnings influenced framing others