Table 9 Variable descriptions
Variable | Description |
|---|---|
UP | An experimental condition where financial analysts expect the stock market to move upward this year |
DOWN | An experimental condition where financial analysts expect the stock market to move downward this year |
TRUST | Trust in financial analysts' expectations |
UP:TRUST | Interaction of up and trust |
DOWN:TRUST | Interaction of down and trust |
Liquidity | Fear of losing liquidity |
Family risk pooling | Having family members that individuals can rely on financially |
Bequest | Wanting to leave money for family members after death |
Bequest:income | Interaction of bequest and household income |
Investment frame | Thinking of an annuity as an investment rather than an insurance |
Annuity antipathy | Deep annuity aversion |
Mortality salience | Increased accessibility of death-related thoughts |
Self-selection | Life expectancy compared to peers |
Further controls | Time spent on answering the hypothetical scenario question, loss aversion, risk aversion, subjective discount rate, education level, female, number of children, and household income |