Design Choices in Privatized Social-Security Systems: Learning from the Swedish Experience

By Henrik Cronqvist, Richard H. Thaler. 2004

377 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, General Health Professions

View Paper: https://www.semanticscholar.org/paper/e01685fdb8fcf4fe3c2f40e4f8ec2a84001fe3c3

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Citations in the corpus

Financial literacy and retirement planning in Sweden* (2011, positive): “…ample evidence of investor mistakes with regard to the individual accounts : not rebalancing portfolios or exhibiting home-market bias (Palme et al., 2007), using heuristics such as a 1/n rule to choose investments (Cronqvist and Thaler, 2004) and being inattentive (Dahlquist and Martinez, 2010).”
Choice without Awareness: Ethical and Policy Implications of Defaults (2013, background): “Cronqvist and Thaler (2004) document how, under privatization of social security, Swedish citizens were sent a catalog of mutual funds and given instructions on how to invest for their own future.”
Presidential Address: Does Finance Benefit Society? (2015, background): “Da Rin, Nicodano, and Sembenelli (2006) find that in Europe the opening of a “New Market” for smaller companies had a positive and significant effect on the proportion of private equity funds invested in early stage ventures and high-tech industries.”
Fettered Consumers and Sophisticated Firms: Evidence from Mexico's Privatized Social Security Market (2012, background): “For example, people may be overly sensitive to default rules or use simple heuristics when allocating resources across investments (Benartzi and Thaler 2001; Madrian and Shea 2001; Cronqvist and Thaler 2004; Benartzi and Thaler 2007; Beshears et al. 2006; Choi, Laibson and Madrian 2010).”
Beyond nudges: Tools of a choice architecture (2012, background): “…tools Examples Setting up the task Alternative overload Reduce number of alternatives Medicare drug plans (Kling et al. 2011), investments (Cronqvist and Thaler 2004) Technology and decision aids Sorting on attributes (Lynch and Ariely 2000), mobile devices and applications (Cook and Song…”
Risk-return preferences in the pension domain: are people able to choose? (2007, positive): “defaults, notably in the area of investing for retirement ( Cronqvist and Thaler, 2004 ).”