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Swiss Journal of Economics and Statistics

Table 7 Average marginal effects with median-split motives variables

From: What matters in the annuitization decision?

Variables

Selected annuity = Yes

Experiment

UP

− 0.004

(0.041)

DOWN

− 0.042

(0.040)

TRUST

− 0.038***

(0.016)

Motives

Liquidity

− 0.236***

(0.032)

Family risk pooling

− 0.080**

(0.035)

Bequest

0.005

(0.036)

Investment frame

− 0.140***

(0.052)

Mortality salience

− 0.096***

(0.035)

Self-selection

0.066*

(0.034)

Literacy

Basic annuity literacy

0.109***

(0.020)

Financial literacy

− 0.024

(0.017)

Observations

676

Wald-Chi2

136.47***

Pseudo R2

0.155

  1. This table presents the average marginal effects of the factors of the regressions in Table 2 after median-splitting the motive variables. Delta-method standard errors in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1
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