How Do the Elderly Form Expectations?
How Do the Elderly Form Expectations?

Author: B. Douglas Bernheim

Publisher:

Published: 1988

Total Pages: 68

ISBN-13:

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In this paper, I outline and test a simple theory that describes the evolution of expectations concerning social security benefits during the pre-retirement period. After correcting for the presences of measurement error, I obtain results that are consistent with this theory: expectations appear to evolve as a random walk, and innovations in this process are unrelated to previously available information. I also estimate responses of expectations to the arrival of new information. Although previous research indicates that individuals do not form expectations on the basis of all available information (and in particular ignore much of the information contained in concurrent statutory entitlements to social security benefits), responses to new information during the period immediately preceding retirement appear to be highly rational. The bulk of information affects the evolution of expectations only through its impact on actual benefit calculations. Furthermore, the data support the view that individuals form accurate assessments of the ultimate impact of new information on actual benefits.

Handbook of Economic Expectations
Handbook of Economic Expectations

Author: Ruediger Bachmann

Publisher: Elsevier

Published: 2022-11-04

Total Pages: 876

ISBN-13: 0128234768

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Handbook of Economic Expectations discusses the state-of-the-art in the collection, study and use of expectations data in economics, including the modelling of expectations formation and updating, as well as open questions and directions for future research. The book spans a broad range of fields, approaches and applications using data on subjective expectations that allows us to make progress on fundamental questions around the formation and updating of expectations by economic agents and their information sets. The information included will help us study heterogeneity and potential biases in expectations and analyze impacts on behavior and decision-making under uncertainty. - Combines information about the creation of economic expectations and their theories, applications and likely futures - Provides a comprehensive summary of economics expectations literature - Explores empirical and theoretical dimensions of expectations and their relevance to a wide array of subfields in economics

Issues in the Economics of Aging
Issues in the Economics of Aging

Author: David A. Wise

Publisher: University of Chicago Press

Published: 2008-04-15

Total Pages: 408

ISBN-13: 0226903265

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This companion volume to The Economics of Aging (1989) examines the economic consequences of an increasingly older population, focusing on the housing and living arrangements of the elderly, as well as their labor force participation and retirement.

Consumer Expectations
Consumer Expectations

Author: Richard Thomas Curtin

Publisher: Cambridge University Press

Published: 2019-02-07

Total Pages:

ISBN-13: 1108576931

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Richard Curtin has directed the University of Michigan's consumer sentiment surveys for more than four decades. His analyses of recent trends in consumer expectations are regularly covered in the worldwide press. In this book, Curtin presents a new theory of expectations. Whereas conventional theories presume that consumers play a passive role in the macro economy, simply reacting to current trends in incomes, prices, and interest rates, Curtin proposes a new empirically consistent theory. He argues that expectations are formed by an automatic process that utilizes conscious and nonconscious processes, passion and reason, information from public and private sources, and social networks. Consumers ultimately reach a decision that serves both the micro decision needs of individuals and reflects the common influence of the macro environment. Drawing on empirical observations, Curtin not only demonstrates the importance of consumer sentiment, but also how it can foreshadow the cyclical turning points in the economy.

Better with Age
Better with Age

Author: Dr. Alan D. Castel

Publisher: Oxford University Press

Published: 2018-08-01

Total Pages: 257

ISBN-13: 0190279990

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Age is an important number, but it can also be deceiving. After 40, most people say they feel younger than their years, some lie about their age, and many attempt to hide the signs of growing old. Better with Age addresses the many myths and paradoxes about the aging process. Although most people think of their later years in terms of decline, they can be one of the best times in life. This book presents the latest scientific research about the psychology of aging, coupled with insights from those who have succeeded in doing it well, such as Maya Angelou, Bob Newhart, Jared Diamond, John Glenn, and John Wooden. We are all aging, and many people are concerned about what to expect with advancing years. Retirement, happiness, and brain health are some of the many topics covered in this book. Better with Age shows what we can do now, at any stage in life, to make sure we enjoy old age.

Families Caring for an Aging America
Families Caring for an Aging America

Author: National Academies of Sciences, Engineering, and Medicine

Publisher: National Academies Press

Published: 2016-11-08

Total Pages: 367

ISBN-13: 0309448093

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Family caregiving affects millions of Americans every day, in all walks of life. At least 17.7 million individuals in the United States are caregivers of an older adult with a health or functional limitation. The nation's family caregivers provide the lion's share of long-term care for our older adult population. They are also central to older adults' access to and receipt of health care and community-based social services. Yet the need to recognize and support caregivers is among the least appreciated challenges facing the aging U.S. population. Families Caring for an Aging America examines the prevalence and nature of family caregiving of older adults and the available evidence on the effectiveness of programs, supports, and other interventions designed to support family caregivers. This report also assesses and recommends policies to address the needs of family caregivers and to minimize the barriers that they encounter in trying to meet the needs of older adults.

The Patient Satisfaction Questionnaire Short-form (PSQ-18)
The Patient Satisfaction Questionnaire Short-form (PSQ-18)

Author: Grant N. Marshall

Publisher:

Published: 1994

Total Pages: 42

ISBN-13:

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This article reports on the development and psychometric properties of a short-form version of the 50-item Patient Satisfaction Questionnaire III (PSQ-III). The short-form instrument, the PSQ-18, contains 18 items tapping each of the seven dimensions of satisfaction with medical care measured by the PSQ-III: general satisfaction, technical quality, interpersonal manner, communication, financial aspects, time spent with doctor, and accessibility and convenience. PSQ-18 subscale scores are substantially correlated with their full-scale counterparts and possess generally adequate internal consistency reliability. Moreover, both the magnitude of the correlation coefficients and the overall pattern of correlations among PSQ-18 subscales are highly similar to those observed for the PSQ-III. These preliminary analyses support the use of the PSQ-18 in situations where the need for brevity precludes administration of the full-length PSQ-III.

When I'm 64
When I'm 64

Author: National Research Council

Publisher: National Academies Press

Published: 2006-02-13

Total Pages: 280

ISBN-13: 0309164915

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By 2030 there will be about 70 million people in the United States who are older than 64. Approximately 26 percent of these will be racial and ethnic minorities. Overall, the older population will be more diverse and better educated than their earlier cohorts. The range of late-life outcomes is very dramatic with old age being a significantly different experience for financially secure and well-educated people than for poor and uneducated people. The early mission of behavioral science research focused on identifying problems of older adults, such as isolation, caregiving, and dementia. Today, the field of gerontology is more interdisciplinary. When I'm 64 examines how individual and social behavior play a role in understanding diverse outcomes in old age. It also explores the implications of an aging workforce on the economy. The book recommends that the National Institute on Aging focus its research support in social, personality, and life-span psychology in four areas: motivation and behavioral change; socioemotional influences on decision-making; the influence of social engagement on cognition; and the effects of stereotypes on self and others. When I'm 64 is a useful resource for policymakers, researchers and medical professionals.