PSC In The News
Kalousova and Burgard find credit card debt increases likelihood of foregoing medical care
Pierotti finds shift in global attitudes on intimate partner violence
Highlights
Arline Geronimus wins Excellence in Research Award from School of Public Health
Yu Xie to give DBASSE's David Lecture April 30, 2013 on "Is American Science in Decline?"
U-M grad programs do well in latest USN&WR "Best" rankings
Sheldon Danziger named president of Russell Sage Foundation
Back in September
Follow us Implications of Alzheimer's Disease Risk for Household Financial Decision Making
a PSC Research Project
Investigator: Robert Willis
In this project, we propose to use a new body of data from the Cognitive Economics Survey (CogEcon) to explore how cognitive decline affects family financial decision making. Our analysis builds on and extends ongoing work in Joanne W. Hsu’s PhD dissertation. She notes that the CogEcon data show that a woman typically knows less about financial matters than her husband, but is likely to outlive him and can expect to become responsible for financial matters. Because the benefits of financial knowledge for women are not realized until she is a widow, Hsu’s theoretical model predicts that a woman has an incentive to delay the acquisition of financial knowledge until later in life. Conversely, because knowledge cannot be acquired instantaneously, she also has an incentive to begin her acquisition of financial knowledge well before widowhood so that she will be equipped with the knowledge needed to manage her wealth when her husband dies.
| Funding: | Pfizer, Inc. |
Funding Period: 01/28/2010 to 01/31/2011