Nudge: An Application in Retirement Planning

13 Pages Posted: 7 Nov 2010

See all articles by John B. Mitchell

John B. Mitchell

Central Michigan University - Department of Finance and Law

Date Written: March 25, 2010

Abstract

This paper reviews principles of behavioral finance as applicable to retirement withdrawal planning, discusses common retirement planning problems, reviews relevant law, and proposes an application of Thaler and Sunstein’s NUDGE (2008). The paper includes a proposal for modification of federal retirement plan law to encourage behavior which will lead to reduced risk of ruin for retirees and concludes with the implications for retirees, the federal government, and financial institutions.

Keywords: Retirement Planning, Behavioral Finance, NUDGE

JEL Classification: D1, G28, J26

Suggested Citation

Mitchell, John B., Nudge: An Application in Retirement Planning (March 25, 2010). Available at SSRN: https://ssrn.com/abstract=1703945 or http://dx.doi.org/10.2139/ssrn.1703945

John B. Mitchell (Contact Author)

Central Michigan University - Department of Finance and Law ( email )

328 Sloan Hall
Mount Pleasant, MI 48859
989-774-3651 (Phone)

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