Netspar Workshop on Pensions
ICIR Co-organized the Netspar Policy Workshop on Pension, June 17
On June 17, the ICIR co-organized the Netspar Policy Workshop on Pensions, which was hosted by the Goethe University Frankfurt. The event was promoted by the Network for Studies on Pensions, Aging and Retirement of the University of Tilburg (The Netherlands). Both Jun. Prof. Dr. Jens Gal and Prof. Dr. Helmut Gründl of the ICIR actively participated in the workshop. Jens Gal also moderated the session on Pension Adequacy.
Key speakers of the session were Marc Vothknecht (European Commission), Yves Stevens (KU Leuven), Ole Beier Sorensen (ATP Denmark) and Arie Kapteyn (University of Southern California).
International Pensions Workshop, June 19
On June 19, Prof. Dr. Helmut Gründl was invited to give a talk on presentation formats and pension plans at the International Pension Workshop. The title of the presented paper is “And lead us not into temptation: Presentation formats and presentation plans”, a joint work with Franca Elsner and Christian Wilde.
This paper provides a systematic analysis of how framing affects individuals' investment decisions. In an experimental study it was found that the type of presentation has a major impact on both the consistency of decisions and individuals' risk preferences. On average, only 28% of the participants make consistent choices. Subjects choose riskier investments when possible outcomes are shown in absolute values and when the loss potential is less obvious.