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Table 9 Variable descriptions

From: What matters in the annuitization decision?

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