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| Author: | Normann, M. Langer, T. |
| Title: | Altersvorsorge, Konsumwunsch und mangelnde Selbstdisziplin |
| Journal: | Zeitschrift für Betriebswirtschaft
2002 : DEC, VOL. 72:12, p. 1297-1323 |
| Index terms: | PENSIONS SAVINGS CONSUMPTION ANALYTICAL REVIEW |
| Language: | ger |
| Abstract: | With the German pay-as-you-go pension system under severe pressure, private retirement savings will gain more and more importance in the future. This assigns additional responsibility to individuals to choose appropriate saving levels and to make efficient investment decisions to secure old-age income. A lack of self control and the lure of immediate consumption can be expected to be major concerns for reaching a sufficient retirement income. Unfortunately, within the framework of neoclassical theory it is hardly possible to discuss the consequences of self control problems, appropriate incentive mechanisms, and the engineering of financial products (original in German). |
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