Olivia S. Mitchell
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View article: Understanding debt in the older population
Understanding debt in the older population Open
We explore debt and debt management among older Americans (ages 51–61 years) using the 2018 National Financial Capability Study. Though these individuals should have been at the peak of their retirement savings, we show that many were heav…
View article: Financial regret at older ages and longevity awareness
Financial regret at older ages and longevity awareness Open
To investigate financial regret among older Americans, we conduct a controlled experiment in the Health and Retirement Study. We document that many older people regret not having bought longevity protection or long‐term care insurance, as …
View article: Understanding Financial Vulnerability Among Asians, Blacks, and Hispanics in the United States
Understanding Financial Vulnerability Among Asians, Blacks, and Hispanics in the United States Open
Many and diverse financial struggles confront people face in the United States, many of which were revealed by COVID-19 epidemic and economic shocks resulting from it. Persons in minority communities, in particular, have been disproportion…
View article: Money-back guarantees in individual retirement accounts: Are they good policy?
Money-back guarantees in individual retirement accounts: Are they good policy? Open
Embedding mandatory investment guarantees in individual retirement accounts (IRAs) can protect workers from equity market shortfalls, but policymakers must understand the economic costs of such guarantees as well as their incidence. Using …
View article: Does being financially resilient lead to better economic outcomes?
Does being financially resilient lead to better economic outcomes? Open
Some Americans prepare for unanticipated adverse economic events, plan for the future, and keep their debt at manageable levels, but others do not. Using four waves of the Understanding America Study during the pandemic period, we compare …
View article: Incorporating AI into construction management: Enhancing efficiency and cost savings
Incorporating AI into construction management: Enhancing efficiency and cost savings Open
The construction sector encounters obstacles such as intricate project requirements, delays, and communication barriers. Utilizing artificial intelligence—especially through techniques like data analysis, predictive analytics, and machine …
View article: Suboptimal household investment and information-processing frictions: Evidence from 529 college savings plans
Suboptimal household investment and information-processing frictions: Evidence from 529 college savings plans Open
We use the 529 college savings plan setting to investigate whether and why households make suboptimal choices to invest in local assets. We estimate that 67% of open accounts between 2010 and 2020 were located suboptimally due to the plans…
View article: Ambiguity attitudes for real-world sources: field evidence from a large sample of investors
Ambiguity attitudes for real-world sources: field evidence from a large sample of investors Open
Empirical studies of ambiguity aversion mostly use artificial events such as Ellsberg urns to control for unknown probability beliefs. The present study measures ambiguity attitudes using real-world events in a large sample of investors. W…
View article: Retirement System Resiliency in the Face of Real-World Shocks
Retirement System Resiliency in the Face of Real-World Shocks Open
Labor market shocks and financial stresses are shaping how older workers fare as they head into retirement, as well as how younger workers are preparing financially for their future. These shocks come on top of long-standing concerns surro…
View article: Protective Behavior and Life Insurance
Protective Behavior and Life Insurance Open
We study life insurance market responses to Covid-19 using unique national administrative data from Israel on purchases and cancellations of life insurance policies, and an internet survey of Americans' life insurance choices, risk attitud…