• Sendhil Mullainathan


Framing Lifetime Income. Sendhil Mullainathan, May 2013, Paper. "We provide evidence that individuals optimize imperfectly when making annuity decisions, and this result is not driven by loss aversion. Life annuities are more attractive when presented in a consumption frame than in an investment frame. Highlighting the purchase price in the consumption frame does not alter this result. The level of habitual spending has little interaction with preferences for annuities in the consumption frame. In an investment frame, consumers prefer annuities with principal guarantees..." May require purchase or user account. Link Verified October 13, 2014