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Table 5 Average marginal effects

From: What matters in the annuitization decision?

Variables This study GM
Experiment
UP − 0.021  
(0.040)  
DOWN − 0.053  
(0.040)  
TRUST − 0.041***  
(0.016)  
Motives   
Liquidity − 0.077*** 0.004
(0.010) (0.025)
Family risk pooling − 0.022** 0.017
(0.010) (0.025)
Bequest 0.008 − 0.058**
(0.009) (0.023)
Investment frame − 0.072*** − 0.079***
(0.015) (0.027)
Mortality salience − 0.015*  
(0.008)  
Self-selection 0.03** − 0.085***
(0.013) (0.027)
Literacy   
Basic annuity literacy 0.105*** 0.113***
(0.020) (0.028)
Financial literacy − 0.033** − 0.106***
(0.017) (0.037)
Observations 676 1394
  1. This table presents the average marginal effects of the factors of the regressions in Table 2. Delta-method standard errors in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1