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Kimball's failed replication of Reinhart-Rogoff finding cited in argument for tempered public response to social science research results

Edin and Shaefer's book on destitute families in America reviewed in NYT

Johnston says rate of daily marijuana use among college students now greater than rate of daily cigarette smoking

Highlights

Deirdre Bloome wins ASA award for work on racial inequality and intergenerational transmission

Bob Willis awarded 2015 Jacob Mincer Award for Lifetime Contributions to the Field of Labor Economics

David Lam is new director of Institute for Social Research

Elizabeth Bruch wins Robert Merton Prize for paper in analytic sociology

Next Brown Bag

Monday, Oct 12
Joe Grengs, Policy & Planning for Social Equity in Transportation

Robert Willis photo

Implications of Alzheimer's Disease Risk for Household Financial Decision Making

a PSC Research Project [ARCHIVE DISPLAY]

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 Period: 01/28/2010 to 01/31/2011

This PSC Archive record is displayed for historical reference.

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