Optimism and economic choice☆
Abstract
We create a novel measure of optimism using the Survey of Consumer Finance by comparing self-reported life expectancy to that implied by statistical tables. This measure of optimism correlates with positive beliefs about future economic conditions and with psychometric tests of optimism. Optimism is related to numerous work/life choices: more optimistic people work harder, expect to retire later, are more likely to remarry, invest more in...
Paper Details
Title
Optimism and economic choice☆
Published Date
Oct 1, 2007
Volume
86
Issue
1
Pages
71 - 99
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