F. Thomas Juster's research while affiliated with The National Bureau of Economic Research and other places
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Publications (5)
Individuals' preferences underlying most economic behavior are likely to display substantial heterogeneity. This paper reports on direct measures of preference parameters relating to risk tolerance, time preference, and intertemporal substitution. These experimental measures are based on survey respondents' choices in hypothetical situations. The q...
This paper reports measures of preference parameters relating to risk tolerance, time preference, and intertemporal substitution.
These measures are based on survey responses to hypothetical situations constructed using an economic theorist's concept of
the underlying parameters. The individual measures of preference parameters display heterogeneit...
This paper evaluates the extent to which current knowledge of retirement, savings, pension and related behavior is sufficient for determining the effects of major policy initiatives on the incomes and wealth of the aged population of the United States. Data are presented from two new surveys, the Health and Retirement Study and the Asset and Health...
Citations
... An important goal of the HRS is to support research on racial and ethnic disparities, as described in a special issue of The Gerontologist shortly after the study began (Jackson, Lockery, & Juster, 1996). To achieve this, the study has oversampled African American and Hispanic populations in each incoming cohort. ...
... The first section of this review serves to illustrate that RePlanning is only part of the picture (cf., Browning & Lusardi, 1996 ). Early operationalizations of " plans " include, selfreported intentions for a contiguous career path (Ekerdt, 1996), probabilistic estimates of working full-time past a future age (Juster, 1997), and self-reported anticipatory rehearsal, including single-item indicators, such as, " thinking about retirement " (Stawski et al., 2007). More complex operationalizations of RePlanning have likely suffered from construct contamination (Messick, 1988). ...
... One methodology employs lotteries or gambles across lifetime income (e.g. Barsky et al. 1997), while another approach derives an individual's risk preference through survey data (e.g. Grable 1999;Grable, Lyons, and Heo 2019). ...
... Prior research demonstrates that older adult economic well-being varies by marital status (Gustman & Juster, 1995;Seigel, 1993), but the work to date has not adequately captured the full range of marital histories characterizing older adults (Holden & Kuo, 1996;Wilmoth & Koso, 2002;Zissimopoulos, Karney, & Rauer, 2015). Moreover, most research on the enduring legacy of marital transitions is now rather dated (drawing on the 1992 HRS) and thus is not necessarily reflective of the financial circumstances of today's older adults who have more diverse marital biographies compared with earlier generations (although see Addo & Lichter, 2013). ...
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... Although statistical significance is lacking, females, those aged 70 or older, less educated people, and those with fewer children tend to be more loss-averse. Risk aversion, which is based on the status-quo-bias-free lifetime income gamble questions (Barsky et al., 1997) shows a similar pattern. ...
