Hazel Bateman|Jordan J. Louviere|Susan Thorp|Tarikul Islam|Stephen Satchell
Investment Decisions for Retirement Savings
UNSW Sydney|University of Cambridge
conducted choice experiment investigate whether retirement savers follow simple portfolio theory choosing investments modeled experimental survey data 693 participants using scaleadjusted version latent class choice model results show underlying variability response explained age risk profile score preferences varied income age younger individuals conventionally risk averse older higherincome individuals may react positively higher returns increasing risk risk presented widening ranges possible outcomes respondents tended choose among similar investment options