@article {10137, title = {Till death do us part: Intersecting health and spousal dementia caregiving on caregiver mortality.}, journal = {Journal of Aging and Health}, volume = {32}, year = {2020}, pages = {871-879}, abstract = {

OBJECTIVE: We consider whether it is the healthiest dementia caregivers who experience a mortality benefit and whether a protective association is consistent for leading causes of mortality.

METHOD: Using the Health and Retirement study (2000-2012), Cox survival models predict time to death for dementia caregivers, including an interaction between dementia caregiver status and self-rated health. The nationally representative sample consisted of 10,650 married adults aged 51 or older (917 dementia caregivers).

RESULTS: A significant interaction between dementia caregiver status and self-rated health suggested that relative to noncaregivers, dementia caregivers had reduced mortality, with this effect particularly strong at lower levels of self-rated health. The protective effect of dementia caregiver status was consistent across death by heart disease, cancer, and cerebrovascular disease.

DISCUSSION: These findings add to a growing body of literature suggesting that caregiving may provide a mortality benefit and a reason to maintain health.

}, keywords = {Caregiving, Cognitive Ability, End of life decisions, Marriage}, issn = {1552-6887}, doi = {10.1177/0898264319860975}, author = {Amanda N Leggett and Amanda Sonnega and Matthew C. Lohman} } @article {9553, title = {Impact of In-Hospital Death on Spending for Bereaved Spouses.}, journal = {Health Services Research}, volume = {53}, year = {2018}, pages = {2696-2717}, abstract = {

OBJECTIVE: To examine how patients{\textquoteright} location of death relates to health care utilization and spending for surviving spouses.

DATA SOURCES/STUDY SETTING: Health and Retirement Study (HRS) 2000-2012 linked to the Dartmouth Atlas and Medicare claims data.

STUDY DESIGN: This was an observational study. We matched bereaved spouses whose spouses died in a hospital to those whose spouses died outside the hospital using propensity scores based on decedent and spouse demographic and clinical characteristics, care preferences, and regional practice patterns.

DATA COLLECTION/EXTRACTION METHODS: We identified 1,348 HRS decedents with surviving spouses. We linked HRS data from each dyad with Medicare claims and regional characteristics.

PRINCIPAL FINDINGS: In multivariable models, bereaved spouses of decedents who died in the hospital had $3,106 higher Medicare spending 12~months postdeath (p~=~.04) compared to those whose spouses died outside a hospital. Those surviving spouses were also significantly more likely to have an ED visit (OR = 1.5; p~<~.01) and hospital admission (OR~= 1.4; p~=~.02) in the year after their spouse{\textquoteright}s in-hospital death. Increased Medicare spending for surviving spouses persisted through the 24-month period postdeath ($5,310; p~=~.02).

CONCLUSIONS: Bereaved spouses of decedents who died in the hospital had significantly greater Medicare spending and health care utilization themselves after their spouses{\textquoteright} death.

}, keywords = {Bereavement, End of life decisions, Medicare linkage, Medicare/Medicaid/Health Insurance}, issn = {1475-6773}, doi = {10.1111/1475-6773.12841}, author = {Katherine A Ornstein and Melissa M Garrido and Albert L Siu and Bollens-Lund, Evan and Kenneth M. Langa and Amy Kelley} } @article {9639, title = {Relationship Between Expectation of Death and Location of Death Varies by Race/Ethnicity.}, journal = {American Journal of Hospital Palliative Care}, year = {2018}, abstract = {

BACKGROUND: Older black and Latino Americans are more likely than white Americans to die in the hospital. Whether ethnic differences in expectation of death account for this disparity is unknown.

OBJECTIVES: To determine whether surviving family members{\textquoteright} expectation of death has a differential association with site of death according to race or ethnicity.

METHODS: We conducted an analysis of decedents from the Health and Retirement Study, a nationally representative study of US older adults. Telephone surveys were conducted with family members for 5979 decedents (decedents were 55\% were women, 85\% white, 9\% black, and 6\% Latino). The outcome of interest was death in the hospital; the predictor variable was race/ethnicity, and the intervening variable was expectation of death. Covariates included sociodemographics (gender, age, household net worth, educational attainment level, religion) and health factors (chronic conditions, symptoms, health-care utilization).

RESULTS: Decedents{\textquoteright} race/ethnicity was statistically related to the expectation of death and death in the hospital. When death was not expected, whites and Latinos were more likely to die in the hospital than when death was expected (49\% vs 29\% for whites and 55\% vs 37\% for Latinos; P < .001). There was no difference in site of death according to family{\textquoteright}s expectation of death among blacks.

CONCLUSION: Expectation of death did not fully account for site of death and played a greater role among whites and Latinos than among black Americans. Discussing prognosis by itself is unlikely to address ethnic disparities. Other factors appear to play an important role as well.

}, keywords = {End of life decisions, Mortality, Racial/ethnic differences, Subjective Expectations}, issn = {1938-2715}, doi = {10.1177/1049909118773989}, author = {Rafael D Romo and Irena Cenzer and Brie A Williams and Alexander K Smith} } @article {9857, title = {{\textquoteleft}Til Death Do Us Part: End-of-Life Experiences of Married Couples in a Nationally Representative Survey}, journal = {Journal of the American Geriatrics Society}, year = {2018}, month = {Jan-09-2020}, abstract = {Objectives: To determine whether end-of-life (EOL) experiences in the first spouse in a marriage are associated with EOL experiences in the other spouse. Design: Nationally representative, longitudinal survey. Setting: Health and Retirement Study, Waves 1992{\textendash}2012 linked to Medicare claims. Participants: Community-dwelling older adults who died (N=4,558), representing 2,279 married heterosexual couples. Measurements: We examined 3 EOL experiences: enrollment in hospice for >3 days before death, lack of advance care planning (ACP) before death, and intensive care unit (ICU) use during the last 30 days of life. We used multiple logistic regression to determine whether the EOL experience of the first spouse was a significant predictor of the EOL experience of the second spouse after adjusting for demographic characteristics, socioeconomic status, health status, and time between the first and second spouses{\textquoteright} deaths. Results: First spouses who died were on average 80 years old, and 62\% were male; second spouses were on average 85 years old, and 62\% were female. After adjustment, second spouses were more likely to use hospice if the first spouse used hospice (odds ratio (OR)=1.68, 95\% confidence interval (CI)=1.29{\textendash}2.20). Second spouses were less likely to have ACP when the first spouse did not have ACP (OR=2.91, 95\% CI=2.02{\textendash}4.21). Hospice and ACP associations were stronger when deaths were closer in time to one another (p-value for interaction <.05). Second spouses were more likely to use ICU services if the first spouse did (OR=1.80, 95\% CI=1.27{\textendash}2.55). Conclusions: The EOL experiences of older spouses are strongly associated, which may be relevant when framing ACP discussions. {\textcopyright} 2018, Copyright the Author Journal compilation {\textcopyright} 2018, The American Geriatrics Society }, keywords = {End of life decisions, End-of-life care, Hospice, Marriage}, doi = {10.1111/jgs.15573}, url = {http://doi.wiley.com/10.1111/jgs.15573http://onlinelibrary.wiley.com/wol1/doi/10.1111/jgs.15573/fullpdfhttps://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111\%2Fjgs.15573}, author = {Ashwin A Kotwal and Abdoler, Emily and L Grisell Diaz-Ramirez and Amy Kelley and Katherine A Ornstein and W John Boscardin and Alexander K Smith} } @article {9301, title = {End-of-Life Experience of Older Adults Dying of End-Stage Renal Disease: a Comparison with Cancer.}, journal = {Journal of Pain and Symptom Management}, year = {2017}, abstract = {

CONTEXT: Older adults with end-stage renal disease (ESRD) are a rapidly growing group of seriously-ill patients. Yet, despite a mortality rate almost twice that of cancer, less is known about ESRD{\textquoteright}s impact on patients{\textquoteright} end-of-life experience.

OBJECTIVE: To compare the end-of-life experience of older adults who died of ESRD versus cancer.

METHODS: We used data from the Health and Retirement Study (HRS), a nationally-representative survey of older adults. Our sample included 1883 HRS participants who died of cancer or ESRD between 2000 and 2010 and their family respondents. We compared advance care planning, treatment intensity, and symptoms between the two groups, and used propensity score weighting to adjust for differences by diagnosis.

RESULTS: Among propensity-weighted cohorts, older adults with ESRD, compared with similar patients with cancer, were less likely to have end-of-life instructions (adjusted proportions 38.5\% vs. 49.7\%, P=.005) and were more likely to die in the hospital (53.5\% vs. 29.0\%, P<.001) and to use the ICU in the last two years of life (57.1\% vs. 37.0\%, P<.001). Decedents with ESRD and cancer had similarly high rates of moderate or severe pain (53.7\% vs. 57.8\%, P=.34) and all other symptoms.

CONCLUSION: Older adults dying of ESRD had lower rates of advance care planning and higher treatment intensity near the end of life than similar patients dying of cancer; both groups had similarly high rates of symptoms. Efforts are needed to make treatment more supportive and alleviate suffering for older adults with ESRD and their families near the end of life.

}, keywords = {Cancer screenings, End of life decisions, Kidney disease, Mortality}, issn = {1873-6513}, doi = {10.1016/j.jpainsymman.2017.08.013}, author = {Melissa W Wachterman and Stuart R Lipsitz and Karl A Lorenz and Edward R Marcantonio and Li, Zhonghe and Nancy L. Keating} } @article {6477, title = {Does Dementia Caregiving Accelerate Frailty? Findings From the Health and Retirement Study}, journal = {The Gerontologist}, volume = {56}, year = {2016}, pages = {444-450}, chapter = {444}, abstract = {Purpose of the Study: Numerous studies have discovered negative health consequences associated with spousal caregiving at the end of life; however, little is known about how care-recipient cognitive status impacts caregiver health outcomes, specifically in the area of frailty, and whether health consequences remain over time. This study examines differences in frailty between spousal caregivers of persons with and without a dementia diagnosis. Design and Methods: Using 7 biannual waves of the Health and Retirement Study data (1998 2010), we examined odds of becoming frailer among surviving spouses of individuals who died between 2000 and 2010 (N = 1,246) with and without dementia. To assess increased frailty, we used a Frailty Index, which assesses chronic diseases, mobility, functional status, depressive symptoms, and subjective health. Logistic regression was used to examine the relationship between care-recipient cognitive status and whether, compared with the wave prior to death of the care-recipient, spousal caregivers were frailer: (1) in the wave the death was reported and (2) 2 years after the death was reported.Results: Dementia caregivers had 40.5 higher odds of experiencing increased frailty by the time the death was reported and 90 higher odds in the following wave compared with non-dementia caregivers.Implications: Given our findings, we discuss public health implications regarding the health and well-being of caregivers of persons with dementia. Given projected increases in dementia diagnoses as the population ages, we propose a need for interventions that provide enhanced support for dementia caregivers.}, keywords = {Adult children, End of life decisions, Health Conditions and Status, Healthcare, Public Policy}, doi = {10.1093/geront/gnu078}, url = {http://gerontologist.oxfordjournals.org/content/early/2014/08/25/geront.gnu078.abstract}, author = {Kara B. Dassel and Dawn C Carr} } @article {6442, title = {Trends in Engagement in Advance Care Planning Behaviors and the Role of Socioeconomic Status}, journal = {American Journal of Hospice and Palliative Medicine}, volume = {33}, year = {2016}, pages = {651-657}, chapter = {651}, abstract = {We investigated the trends in advance care planning (ACP) between 2002 and 2010 and whether socioeconomic status explained such trends. We conducted a pooled regression analysis of Health and Retirement Study data from 6052 proxies of deceased individuals. We studied 3 ACP behaviors, discussing end-of-life (EOL) care preferences, providing written EOL care instructions, and appointing a durable power of attorney for health care (DPAHC). ACP increased by 12 to 23 every 2 years from 2002 to 2010. Higher household income increased the odds of having a DPAHC. Education was not associated with ACP. Socioeconomic status alone appears to play a very limited role in predicting ACP. Engagement in ACP likely depends on a constellation of many social and contextual factors.}, keywords = {Demographics, End of life decisions, Methodology, Retirement Planning and Satisfaction}, doi = {10.1177/1049909115581818}, url = {http://ajh.sagepub.com/content/early/2015/04/20/1049909115581818.abstract}, author = {Khosla, Nidhi and Angela L Curl and Washington, Karla T.} } @article {8309, title = {Marital bargaining in the demand for life insurance: evidence from the Health and Retirement Study}, journal = {Review of Economics of the Household}, volume = {13}, year = {2015}, note = {Times Cited: 0 0}, pages = {243-268}, publisher = {13}, abstract = {A vast literature explores life insurance from the perspective of a single individual. This paper considers an alternative approach by developing and testing a theoretical model for term life insurance demand by married households over age 50. Allowing for joint, cooperative decision making between spouses, empirical findings show that increasing the relative bargaining power of husbands results in reductions in the size of the insurance policies covering the lives of husbands in a manner consistent with theory. The intuition is that households reallocate resources to states of nature that husbands place greater weight by reducing the amount spent on purchasing insurance covering the lives of husbands. In contrast, marital bargaining power generally has a substantially smaller effect in the demand for life insurance covering the lives of wives. However, when bargaining power is shifted towards husbands, life insurance coverage increases among the subsample of wives who provide a large proportion of total household income and are more likely to require protection against lost future income in the event of death.}, keywords = {End of life decisions, Insurance, Net Worth and Assets, Other}, author = {Edwin S. Wong} } @mastersthesis {6158, title = {Relationship of financial literacy to retirement preparedness among female baby-boomer cohorts}, volume = {Ph.D.}, year = {2015}, month = {2015}, pages = {115}, school = {Capella University}, abstract = {Studies have not examined the impact of components of financial literacy on retirement preparedness nor the relationship between financial literacy and decision-making among female baby-boomers. This study examined data from the 2010 wave of the Health and Retirement Study for females born between 1946 and 1959. This study defined financial literacy as including knowledge of investment strategies, the bond market, risk, and diversity. It defined retirement preparedness as the possession of specific financial assets. Financial decision-making was defined as the potential for mortgage default and carrying balances on credit cards. The study used a synthesis of rational choice and planned behavior theories. Correlation was used to describe the relationships between variables, and Fisher{\textquoteright}s transformation was used to determine significant differences between cohorts. Multiple linear regression was used to create predictive models for retirement planning, with the resultant finding that age was significant in predicting retirement preparedness ( p < .01). Older cohorts were more prepared, particularly in terms of owning IRA/Keogh plans. Understanding the effects of holding a variety of stocks and foreign stocks were most strongly related to retirement preparedness. There was a significant relationship between financial literacy and the potential for mortgage default ( p < .05) but not for carrying credit card balances. The regression produced a significant ( p < .05) predictive model for retirement preparedness, thought the relationship with financial literacy was slight. The research has implications in terms of housing, health, and municipal sustainability. Further research is necessary to define financial literacy, retirement preparedness, and their relationship.}, keywords = {End of life decisions, Health Conditions and Status, Methodology, Net Worth and Assets, Public Policy, Retirement Planning and Satisfaction, Women and Minorities}, author = {Womack, Barbara Klein} } @article {6466, title = {Advance directive completion by elderly americans: A decade of change}, journal = {Journal of the American Geriatrics Society}, volume = {62}, year = {2014}, note = {Export Date: 21 April 2014 Source: Scopus Article in Press}, pages = {706-710}, abstract = {Objectives: To describe trends in advance directive (AD) completion from 2000 to 2010 and to explore the relationship between AD and hospitalization and hospital death at the end of life. Design: Retrospective cohort study. Setting: Health and Retirement Study (HRS). Participants: HRS participants who died between 2000 and 2010 and were aged 60 and older at death (N = 6,122). Measurements: Trends over time in rates of AD completion, hospitalization before death, and death in hospital are described. The association between trends in AD completion and hospital death was then assessed by comparing nested, multivariable logistic regression models predicting the odds of hospital death over time with and without adjusting for AD status and sociodemographic characteristics. The complex sampling design was accounted for in all analyses. Results: The proportion of decedents with an AD increased from 47 in 2000 to 72 in 2010. At the same time, the proportion of decedents with at least one hospitalization in the last 2 years of life increased from 52 to 71 , and the proportion dying in the hospital decreased from 45 to 35 . After adjusting for confounding by sociodemographic characteristics, the trend in declining hospital death over the decade was negligibly associated with the greater use of ADs. Conclusion: There has been a significant increase in rates of AD completion over the last decade, but this trend has had little effect upon hospitalization and hospital death, suggesting that AD completion is unlikely to stem hospitalization before death. 2014, The American Geriatrics Society.}, keywords = {End of life decisions, Retirement Planning and Satisfaction}, url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84897346861andpartnerID=40andmd5=6c3047d8b5bb80860463fea1777abea9}, author = {Maria J Silveira and Wiitala, W. and John D Piette} } @book {5293, title = {Dying in America: Improving Quality and Honoring Individual Preferences Near the End of Life}, year = {2014}, publisher = {National Academies Press}, organization = {National Academies Press}, address = {Washington, DC}, keywords = {End of life decisions, Health Conditions and Status, Healthcare, Public Policy, Retirement Planning and Satisfaction} } @mastersthesis {6350, title = {End-of-life care planning and its implementation}, volume = {3629596}, year = {2014}, note = {Copyright - Copyright ProQuest, UMI Dissertations Publishing 2014 Last updated - 2014-10-14 First page - n/a}, month = {2014}, pages = {136}, school = {Boston College}, type = {Ph.D.}, address = {Boston}, abstract = {End-of-life care planning is an opportunity for people to express how they want to spend the final stage of their lives by directing what type of medical treatment they wish or do not wish to receive. The completion of such planning is a way to exercise their autonomy, which is one of the fundamental ethical principles in medicine in the United States. Many older adults in the U.S., however, do not have such a plan or even discuss the topic with anyone. In order to understand the circumstances in which end-of-life planning is enacted, this study investigated two important research questions: (1) What are the sociodemographic and psychosocial factors that enhance or impede the completion of end-of-life planning? (2) How consistent is the content of a living will with the person{\textquoteright}s actual dying experience? These research questions were developed and examined as an application of expectancy theory, which explains the concepts of motivation and action. A series of logistic regression analyses were conducted. This study analyzed data from the Health and Retirement Study (HRS), which is a nationally representative sample of Americans over the age of 50. The analytic subsample included those who died between 2000 and 2010 ( N = 6,668). The study found that persons who were older, who identified themselves as White, who had higher levels of income and education, and who were widowed or separated were more likely to be motivated to complete end-of-life planning. A higher level of sense of mastery was specifically relevant to documentation of living wills. On the other hand, a lower level of religiosity was specifically associated with having a durable power of attorney for health care. In addition, there was a clear connection between a request for palliative care and less troubling pain. Implications include conducting a community- or workplace-based public educational campaign, incorporating a culturally tailored approach for racial/ethnic minorities (e.g. faith-based interventions), using advance directives written in easy to understand language (e.g. Five Wishes), and funding Medicare provision for end-of-life care consultations between doctors and patients during annual physical exams.}, keywords = {End of life decisions, Expectations, Healthcare, Medicare/Medicaid/Health Insurance, Net Worth and Assets, Public Policy, Retirement Planning and Satisfaction}, url = {http://proxy.lib.umich.edu/login?url=http://search.proquest.com/docview/1562496003?accountid=14667http://mgetit.lib.umich.edu/?ctx_ver=Z39.88-2004\&ctx_enc=info:ofi/enc:UTF-8\&rfr_id=info:sid/ProQuest+Dissertations+\%26+Theses+A\%26I\&rft_val_fmt=info:ofi/fmt:}, author = {Inoue, Megumi} } @article {8054, title = {Positive and Negative Social Exchanges and Cognitive Aging in Young-Old Adults: Differential Associations Across Family, Friend, and Spouse Domains}, journal = {Psychology and Aging}, volume = {29}, year = {2014}, note = {Times Cited: 0}, pages = {28-43}, publisher = {29}, abstract = {We examined how positive and negative social exchanges with friends, family, and spouses were related to cognitive aging in episodic and working memory, and perceptual speed. To do so, we used a large sample of cognitively intact young-old participants from the PATH Through Life Study ( PATH; aged 60 to 64 years at baseline, n = 1,618) who were assessed on 3 occasions over 8 years. Additional replication analyses were conducted using the Health and Retirement Study (HRS), which provided data on episodic memory. The main analysis of PATH Through Life showed that positive exchanges with friends and family were associated with less decline in perceptual speed, with these associations attenuated by adjustment for physical functioning and depressive symptoms. Negative exchanges with spouses were associated with poorer working memory performance. Positive exchanges with friends were associated with better initial episodic memory in both PATH and HRS. More frequent negative exchanges with friends and family were associated with better episodic memory in the PATH sample. However, these findings were not replicated in HRS. Our findings provide indirect support for the role of social exchange quality in contributing to cognitive enrichment. However, the inconsistent pattern of results across cognitive and social exchange domains points to possibilities of reverse causality, and may also indicate that social exchange quality plays a less important role for cognitive enrichment than other psychosocial characteristics.}, keywords = {End of life decisions, Event History/Life Cycle, Health Conditions and Status, Methodology, Other, Retirement Planning and Satisfaction}, author = {Tim D Windsor and Denis Gerstorf and Pearson, Elissa and Lindsay H Ryan and Kaarin J. Anstey} } @article {8044, title = {Recession and Expected Retirement Age: Another Look at the Evidence}, journal = {Gerontologist}, volume = {54}, year = {2014}, note = {Times Cited: 0}, pages = {245-257}, publisher = {54}, abstract = {Purpose: This article expands on earlier analyses that assessed whether the recent recession influenced retirement expectations. Design and Methods: Acknowledging that planning for retirement is a complex process influenced by personal preferences, resources, economic factors, institutional policies, and social norms, we test more comprehensive models than those used in previous studies, using data from the 2006 and 2008 waves (Waves 8 and 9) of the Health and Retirement Study. Results: Our results confirm that economic changes impinge on retirement expectations, but they also show stronger influences of other factors such as debts and the work environment. Implications: As the baby boom cohorts approach retirement age, it will be important to better understand how workers consider macro factors such as the state of the economy and firm-level factors and personal finances when planning for retirement.}, keywords = {Employment and Labor Force, End of life decisions, Income, Pensions, Public Policy, Retirement Planning and Satisfaction}, doi = {10.1093/geront/gnt010}, author = {Maximiliane E Szinovacz and Lauren Martin and Adam Davey} } @mastersthesis {5989, title = {Essays on the Economics of Tobacco Harm Reduction and on Financial Literacy and Retirement Decision-Making}, volume = {3575643}, year = {2013}, month = {2013}, pages = {188}, school = {North Carolina State University}, type = {Ph.D.}, address = {Raleigh, NC}, abstract = {This dissertation consists of four essays exploring policies and practices that highlight the role of information on decision making. The first two essays can be broadly described as evaluating policies pertaining to tobacco harm reduction--the practice of recommending the use of a less harmful tobacco alternative to those smokers who are unwilling or unable to quit smoking. If oral tobacco use is less harmful than cigarette smoking, consumers may be better off by substituting one product for the other. Although the risk associated with oral tobacco use has been studied in the past, previous estimates may be biased as they did not account for the role of risky behavior which is correlated with both health outcomes and tobacco use. To address this, I undertake an analysis of the association between oral tobacco and oral cancer, while controlling for risky health behaviors. My findings show that when controlling for risky sexual behavior, the estimated causal effect of oral tobacco use on oral cancer is significantly diminished. A better understanding of the true costs (in terms of health risks) associated with use of oral tobacco will allow individuals to make consumption decisions which maximize utility and encourage cost effective and efficient tobacco control policies. If smokers are made aware of the differing health risks between cigarette smoking and oral tobacco use, they may be able to improve their well-being by substituting one product for the other. However, labeling oral tobacco as a less harmful alternative may induce usage by those who would have otherwise abstained from tobacco use. To better understand these opposing consequences, I explore a policy change in Finland. Finland implemented a ban on the sale of oral tobacco when joining the European Union in 1995. I estimate that removing this less harmful alternative from the market increased the smoking rate, relative to what it would have been, by using the neighboring country of Sweden as a counterfactual. The second two essays look at improving employee retirement readiness through actions undertaken at the firm level. The employer sponsored 401(k) plan can be an effective tool in saving for retirement, yet many employees do not participate. If non-participation is due to low levels of financial literacy or due to inertia, an intervention may be effectual in encouraging participation. In my third essay, I report on the effectiveness of a simple informational intervention that highlighted the value of saving in conjunction with the employer match. This one page flyer demonstrated how saving today can lead to substantial wealth accumulation over time. I find that the intervention increases participation rates among younger employees relative to a control group. In the final essay, I explore the effect of pre-retirement seminars on the financial literacy and retirement plans of older employees at several large firms. These seminars are designed to provide information which will assist employees in making the important decisions they will face when transiting into retirement. Results suggest that participation did lead to an increase in financial literacy and that this learning is associated with a change in retirement plans. These last two essays underscore the importance of financial literacy in retirement planning, preparedness, and decision-making.}, keywords = {End of life decisions, Methodology, Net Worth and Assets, Risk Taking}, author = {Maki, Jennifer Anne} } @inbook {5244, title = {Physical and biological indicators of health and functioning in U.S. oldest old}, booktitle = {Annual Review of Gerontology and Geriatrics}, volume = {33}, year = {2013}, pages = {193-215}, publisher = {Springer}, organization = {Springer}, address = {New York}, abstract = {This chapter examines biomarkers of aging, including indicators of physical performance and biomarkers of physiological dysregulation, among a representative national sample of U.S. adults aged 80 years and older with the aim of addressing three questions about the oldest old U.S. population: (a) How do levels of biomarkers of aging vary by age? (b) Are biomarkers of aging patterned by gender, race, ethnicity, and education? and (c) Which biomarkers of aging predict health and mortality. Data for this study come from the Health and Retirement Study (HRS). This large population-based study of U.S. adults aged 80 years and older provides confirmation of the importance of biomarkers of aging for understanding health and longevity in the oldest old. The results indicate that physical functioning declines across age groups even among the oldest old, and that the oldest adults are more likely to have levels of physical performance, inflammation, and organ function that are considered to be high risk for poor health outcomes. In addition, social disparities in physical functioning continue to be evident among the oldest segment of the U.S. population. We also provide evidence for the value of several biomarkers of aging in predicting poor health outcomes among the oldest old. In particular, indicators of high risk for walking dysfunction and dysregulation in the lungs and kidneys were found to predict hospitalization and short-term mortality.}, keywords = {End of life decisions, Health Conditions and Status, Healthcare}, author = {Jennifer A Ailshire and Eileen M. Crimmins}, editor = {Robine, Jean-Marie and Jagger, Carol and Eileen M. Crimmins} } @article {7696, title = {Family Decision Making and Resource Protection Adequacy}, journal = {The Journal of Consumer Affairs}, volume = {46}, year = {2012}, pages = {1}, publisher = {46}, abstract = {This study examines the correlation between resource protection and the intrahousehold distribution of bargaining power. Using data from the Health and Retirement Study, the analysis quantifies potential changes in the surviving individual{\textquoteright}s living standard to evaluate the adequacy of resource protection. Individuals who generate a larger share of family income, are more financially knowledgeable, or have the final say in family decisions leverage their bargaining power to secure higher protection of their hypothetical widowhood living standard. Consequently, spouses with more bargaining power are less likely to experience declines of their living standard in the event of their spouse passing away and are more likely to be overprotected.}, keywords = {Consumption and Savings, End of life decisions, Income, Methodology, Other}, url = {www.jstor.org/stable/23860114}, author = {Patryk D. Babiarz and Robb, Cliff A. and Woodyard, A.} } @mastersthesis {6311, title = {Changes in retirement decisions: Determinants of plans and timing}, volume = {Ph.D.}, year = {2011}, note = {ISBN 9781124710396}, month = {2011}, pages = {262}, school = {University of Maryland, Baltimore County}, type = {Dissertation}, abstract = {Purpose. This study examined dynamic factors in a worker{\textquoteright}s background, resources, jobs or health which influence their expectations about future decisions to work or retire at ages 62 or 65, as well as how these influences and expected timing change as the individual approaches retirement. Design and methods . Employing a conceptual framework based on Andersen{\textquoteright}s (1995) model of health care utilization, the first research question used Generalized Estimating Equations (GEE) to determine which predictors were associated with workers{\textquoteright} expected retirement timing. The second question examined changes in expectations over time in response to changes in predictors, using a two-level approach modeled on Singer and Willett (2003). Utilizing the Core sample of the Health and Retirement Study (HRS); data on 5,989 individuals (48.3\% female) were examined longitudinally across seven waves, 1992 and 2006. Results . For research question one, female gender was associated with a lower expectations to continue working at both early (62), and normal (65) retirement ages. Non-married status had a similar effect for 62 but not for age 65. Differences emerged among sub-groups with non-married females reporting greater plans to continue working at both retirement ages; non-married blacks however were less likely to report plans to continue working at age 65 only. Non-whites with poorer subjective health or health that limited work were less likely to expect to work at age 62, but there was no impact on plans for age 65. Changes were also important. Leaving married status was linked with changes in plans to work at 65 but not 62. Gaining employer sponsored benefits (pension and health coverage) increased likelihood of continued work at both ages. Implications . Findings confirmed that known predictors of retirement decisions are also associated with workers{\textquoteright} expectations well before retirement age is reached. Andersen{\textquoteright}s model was useful for understanding the dynamic process leading up to retirement. Results also support the importance of employer sponsored benefits, such as pension and health insurance, on changes in plans as individuals approach retirement. Policy makers interested in prolonging work lives should look to modifiable factors (pensions and health insurance), which may impact retirement timing.}, keywords = {End of life decisions, Expectations, Methodology, Retirement Planning and Satisfaction}, author = {Giuriceo, Katherine Dodge} } @mastersthesis {6406, title = {Choices and consequences: Decisions on health, wealth, and employment}, volume = {Ph.D.}, year = {2010}, note = {ISBN: 9781124337579}, month = {2010}, pages = {191}, school = {Harvard University}, type = {Dissertation}, address = {Boston}, abstract = {This collection of essays investigates the determinants of individual decisions pertaining to health, wealth, and employment, as well as the effects of these choices on welfare. The first essay examines the decision to take up prescription drug insurance in the context of the 2004/5 Russian benefit monetization reform. This essay uses a new set of questions included in a nationally-representative household survey to investigate the determinants of take-up and to explore its effects on beneficiaries{\textquoteright} health outcomes and healthcare utilization. Regression analysis reveals that healthier people were less likely to choose the prescription drug insurance, which resulted in significant adverse selection. Propensity score and matching techniques suggest no significant declines in health for those opting out of the prescription drug insurance, and no evidence is found for substitution towards hospital care. The second essay focuses on the decision to prepare for one{\textquoteright}s demise by writing a will. This paper explores the relationship between will-holding and "death denial," or the inability to confront one{\textquoteright}s mortality. I propose the first operationalization of "death denial" in economic literature as the subjective self-assessment of 100\% chance of survival to a target age, based on the questions in the Health and Retirement Study. Probit regressions reveal that death deniers are about 4-6\% less likely to be will-holders. This finding supports the claim of psychological costs involved in estate planning, and could partly account for the observed underutilization of other intergenerational wealth transfers. The third essay considers the choice of search methods in the job search of postdoctoral scholars, and how this decision affects satisfaction, productivity, and turnover through the quality of the match between scholar and position. Using data on U.S. postdoctoral scholars from the Sigma Xi Scientific Research Society, we find suggestive evidence of weaker networks for foreign postdoctoral scholars, who more often resort to "impersonal" searches. The resulting difference in job match quality is related to differences in turnover, satisfaction, and productivity. We expect policies facilitating the job placement of foreign scholars to yield beneficial effects on the pace of innovation.}, keywords = {Adult children, Employment and Labor Force, End of life decisions, Methodology, Other, Public Policy}, author = {Levin, Victoria} } @mastersthesis {6160, title = {Determinants and Implications of Mortality Risk at the End of the Life Cycle}, volume = {Ph.D.}, year = {2010}, note = {ISBN: 9781124229829}, month = {2010}, school = {University of Washington}, abstract = {The primary goal of this dissertation is to investigate the impacts of survival uncertainty on outcomes relevant to older Americans. While objective measures of life expectancy are useful in explaining economic outcomes, this dissertation also highlights the importance of subjective measures. In particular, results suggest survival beliefs provide otherwise unobservable information that better predict outcomes. Chapter one employs a Life Cycle model, showing that households smooth consumption and labor supply. Specifically, a longer expected lifetime is associated with the delay of consumption into the future and substitution of hours worked to the present. The second chapter develops a model for purchases of life insurance by older households and tests for the presence of marital bargaining power. Results indicate that increasing the relative bargaining power of the husband reduces the size of the insurance policy taken against the husband{\textquoteright}s life, and increases insurance taken on his wife{\textquoteright}s life. In other words, the household reallocates resources to states of nature that the husband places greater weight, and purchases insurance to guarantee adequate resources for funding optimal consumption in the event of the wife{\textquoteright}s death. Furthermore, results show systematic differences in the effect of survival uncertainty on life insurance purchases. In particular, life insurance purchases are decreasing with objective survival probabilities, but are increasing with subjective measures, suggesting the presence of asymmetric information. The secondary goal of this dissertation is to extend the literature examining the determinants of adult mortality. The third chapter examines the impacts of family characteristics such as parental and sibling on adult mortality at the objective level using survey data from the Health and Retirement Study. Using a competing risk model that controls for correlation between individual death and survey non-response, I find evidence that individuals with longer lived parents exhibit lower mortality risk. Increases in parental age not only affect mortality through increasing the predisposition to survive, but also through positive information from knowledge of extended parental survival and positive social relationships formed. Also, I find individuals with higher vitality and a higher opportunity cost to completing the survey are less likely to respond in future survey waves.}, keywords = {Consumption and Savings, Employment and Labor Force, End of life decisions, Health Conditions and Status, Time Use, Women and Minorities}, author = {Edwin S. Wong} } @article {5810, title = {Individuals{\textquoteright} Uncertainty about Future Social Security Benefits and Portfolio Choice}, year = {2010}, note = {RAND Corporation Publications Department Working Paper}, institution = {Santa Monica, RAND Corporation Publications Department Working Papers}, abstract = {Little is known about the degree to which individuals are uncertain about their future Social Security benefits, how this varies within the U.S. population, and whether this uncertainty influences financial decisions related to retirement planning. To illuminate these issues, the authors present empirical evidence from the Health and Retirement Study Internet Survey and document systematic variation in respondents{\textquoteright} uncertainty about their future Social Security benefits by individual characteristics. They find that respondents with higher levels of uncertainty about future benefits hold a smaller share of their wealth in stocks.}, keywords = {Consumption and Savings, End of life decisions, Expectations, Income, Methodology, Net Worth and Assets}, url = {http://www.rand.org/pubs/working_papers/2010/RAND_WR782.pdf}, author = {Delavande, Adeline and Susann Rohwedder} } @inbook {5232, title = {Mind the Gap! Consumer Perceptions and Choices of Medicare Part D Prescription Drug Plans}, booktitle = {Research Findings in the Economics of Aging}, series = {The Economics of Aging}, year = {2010}, pages = {413-481}, publisher = {University of Chicago Press}, organization = {University of Chicago Press}, chapter = {14}, address = {Chicago}, abstract = {Medicare Part D provides prescription drug coverage through Medicare approved plans offered by private insurance companies and HMOs. In this paper, we study the role of current prescription drug use and health risks, related expectations, and subjective factors in the demand for prescription drug insurance. To characterize rational behavior in the complex Part D environment, we develop an intertemporal optimization model of enrollment decisions. We generally find that seniors{\textquoteright} choices respond to the incentives provided by their own health status and the market environment as predicted by the optimization model. The proportion of individuals who do not attain the optimal choice is small, but the margin for error is also small since enrollment is transparently optimal for most eligible seniors. Further, there is also evidence that seniors over-react to some salient features of the choice situation, do not take full account of the future benefit and cost consequences of their decisions, or the expected net benefits and risk properties of alternative plans.}, keywords = {End of life decisions, Healthcare, Medicare/Medicaid/Health Insurance}, isbn = {0-226-90306-0}, url = {https://www.nber.org/books-and-chapters/research-findings-economics-aging/mind-gap-consumer-perceptions-and-choices-medicare-part-d-prescription-drug-plans}, author = {Florian Heiss and Daniel McFadden and Joachim Winter}, editor = {David A Wise} } @article {7233, title = {Planning for End-of-Life Care: Black-White Differences in the Completion of Advance Directives}, journal = {Research on Aging}, volume = {30}, year = {2008}, pages = {428}, publisher = {30}, abstract = {The authors examined Black-White differences in the likelihood of completing written advance directives for end-of-life health care and engaging in informal verbal communication about advanced wishes. Data from the 1998 Health and Retirement Study (HRS) were combined with data from the 2000 HRS exit interview to analyze Black and White participants{\textquoteright} completion rates. Whites were more likely than Blacks to grant durable power of attorney for health care, to complete a written will, and to informally communicate their wishes; group differences remained after controlling for personal characteristics. Also, Blacks were less likely than Whites to engage in more than one form of end-of-life planning. The authors speculate that sociocultural differences in trust in the medical system and knowledge about advance directives may partially account for these findings. The findings may aid policy makers and practitioners in increasing the level of participation in advance directives.}, keywords = {End of life decisions, Women and Minorities}, doi = {10.1177/0164027508316618}, author = {Kerstin Gerst and Jeffrey A Burr} } @article {7170, title = {Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations}, journal = {Review of Economics and Statistics}, volume = {89}, year = {2007}, pages = {247-264}, publisher = {89}, abstract = {Abstract Previous research finds a systematic decrease in consumption at retirement, a finding that is inconsistent with the life cycle/permanent income hypothesis if retirement is an expected event. In this paper, we use workers subjective beliefs about their retirement dates as an instrument for retirement. After demonstrating that subjective retirement expectations are strong predictors of subsequent retirement decisions, we still find a consumption decline at retirement for workers who retire when expected. However, our estimates of this consumption fall are about a third less than those found when we instead rely on the instrumental variables strategy used in prior studies.}, keywords = {Consumption and Savings, End of life decisions, Expectations}, doi = {https://doi.org/10.1162/rest.89.2.247}, author = {Steven Haider and Melvin Stephens Jr.} } @article {5657, title = {Determinants and Consequences of Bargaining Power in Households}, year = {2006}, institution = {Boston College, Center for Retirement Research at Boston College}, abstract = {A growing literature offers indirect evidence that the distribution of bargaining power within a household influences decisions made by the household. These results undermine the notion that a household can be treated as a unitary decision maker. The indirect evidence links household outcomes to variables that are assumed to influence the distribution of bargaining power within the household. In this paper, we have data on whether a husband or wife in the Health and Retirement Study has the final say when making major decisions in a household. We use this variable to analyze determinants and some consequences of bargaining power. Our analysis overcomes endogeneity problems arising in many earlier studies and constitutes the missing link confirming the importance of household bargaining models.}, keywords = {Adult children, End of life decisions}, url = {http://www.bc.edu//centers/crr}, author = {Friedberg, Leora and Anthony Webb} } @article {7077, title = {Health Insurance and Health at Age 65: Implications for medical care spending on new Medicare beneficiaries}, journal = {Health Services Research}, volume = {41}, year = {2006}, note = {Article English}, pages = {429 -451}, publisher = {41}, abstract = {Objectives. To investigate the consequences of endogeneity bias on the estimated effect of having health insurance on health at age 63 or 64, just before most people qualify for Medicare, and to simulate the implications for total and public insurance (Medicare and Medicaid) spending on newly enrolled beneficiaries in their first years of Medicare coverage. . Data. The longitudinal Health and Retirement Survey of people who were 55-61 years old in 1992, followed through biannual surveys to age 63-64 or until 2000 (whichever came first), and those who were 66-70 years olds from the Medicare Current Beneficiary Surveys, 1992-1998. . Study Design. Instrumental variable (IV) estimation of a simultaneous equation model of insurance choice and health at age 63-64 as a function of baseline health and sociodemographic characteristics in 1992 and endogenous insurance coverage over the observation period. . Findings. Continuous insurance coverage is associated with significantly fewer deaths prior to age 65 and, among those who survive, a significant upward shift in the distribution of health states from fair and poor health with disabilities to good to excellent health. Treating insurance coverage as endogenous increases the magnitude of the estimated effect of having insurance on improved health prior to age 65. The medical spending simulations suggest that if the near-elderly had continuous insurance coverage, average annual medical spending per capita for new Medicare beneficiaries in their first few years of coverage would be slightly lower because of the improvement in health status. In addition, total Medicare and Medicaid spending for new beneficiaries over their first few years of coverage would be about the same or slightly lower, even though more people survive to age 65. Conclusions. Extending insurance coverage to all Americans between the ages of 55 and 64 would improve health (increase survival and shift people from good-fair-poor health to excellent-very good health) at age 65, and possibly reduce total short-term spending by Medicare and Medicaid for newly eligible Medicare beneficiaries, even though more people would enter the program because of increased survival.}, keywords = {End of life decisions, Healthcare, Insurance, Medicare/Medicaid/Health Insurance, Other}, author = {Hadley, J. and Timothy A Waidmann} } @article {7025, title = {Retirement and Marital Decision-Making: Effects on Retirement Satisfaction}, journal = {Journal of Marriage and the Family}, volume = {67}, year = {2005}, pages = {387-398}, publisher = {67}, abstract = {This study explores how partner s employment and preretirement decision-making structures affect retirement satisfaction, using pooled data from Waves 1 to 4 of the Health and Retirement Surveys. Based on resource theory, the analyses indicate that retired husbands are least satisfied if their wives remain employed and had more say in decisions prior to the husband s retirement. Retired wives are least satisfied if their husbands remain employed and had more say in decisions prior to the wife s retirement. These results suggest that retirement transitions undermine married retirees satisfaction if they enhance the other partner s influence in the relationship. More research should address linkages between work and family realms during transitions such as retirement and explore the negotiation processes surrounding such transitions.}, keywords = {Adult children, End of life decisions, Retirement Planning and Satisfaction}, doi = {10.2307/3600276}, author = {Maximiliane E Szinovacz and Adam Davey} } @mastersthesis {6098, title = {Couples Approaching Retirement: The Organization of Pension Behavior within the Family}, year = {2001}, month = {2001}, school = {The Florida State University}, abstract = {In this analysis I used Wave 1 of the Health and Retirement Study to explore how the utilization of pension opportunities intersects with family context. I examined how decisions about retirement savings are shaped by family structure and family dynamics. Structural explanations of pension opportunities take non-market factors such as family responsibilities into account only to the extent that they shape location in the labor market. However, like other decisions related to household resources and savings, many decisions regarding employer pensions occur within the context of the family and it is likely that they are influenced by the resources and behavior of other family members. This research is an initial attempt to incorporate spouse characteristics and household dynamics into explanations of pension behavior. The analyses show the importance of considering the interdependence of decision making among couple members when conducting analyses of financial behavior and pension participation. Results suggest that women, at least this cohort of women, are more influenced by their spouses than are men. Working women tended to coordinate pension decisions with their husbands in a manner that was consistent with or complimentary to the behavior of their husbands. This points to the importance of attending to the influence of the spouse on individual behavior, as well as gender differences in this influence, and the way in which power dynamics within the household filter the translation of individual preferences into individual behavior. The analyses also demonstrate the necessity of accounting for differences in individual preferences and "states of mind" in pension research, since preferences for planning and risk influenced pension participation. In addition, the analyses indicate that there are substantive reasons for making an analytic distinction between primary and supplemental participation. Results also show that the potential selection effects involved in modeling pension participation did not bias the estimates. Although the theoretical reasons for performing these corrections remain, little was gained analytically. In contrast, the analyses demonstrated the importance of acknowledging and correcting for the non-independence of observations when examining individual-level behavior with a sample that contains both members of a couple.}, keywords = {Adult children, Demographics, End of life decisions, Pensions, Retirement Planning and Satisfaction}, author = {Kim Shuey} } @article {6750, title = {Eddies in the Stream: The Prevalence of Uncertain Plans for Retirement}, journal = {The Journals of Gerontology: Social Sciences}, volume = {56B}, year = {2001}, pages = {S162-70}, publisher = {56B}, abstract = {OBJECTIVE: This study examined an assumption of retirement theory that typifies older workers as preretirees who are planfully engaged in paths toward retirement. METHODS: Using survey responses among workers in the 1992 and 1994 waves of the Health and Retirement Study, we described the prevalence of nonsubstantive answers to questions about the expected form and timing of retirement (e.g., don{\textquoteright}t know, haven{\textquoteright}t thought about it ). We tested explanations for this uncertainty as an artifact of the survey process, but also as an outcome of the opportunity structure for retirement planning. RESULTS: Survey procedure did generate some of these noncommittal responses. Depending on question type, approximately 10 to 40 of workers did not state when or how they would retire, and such responses were less prevalent across age and time. In addition, categorical uncertainty about form and timing was theoretically predictable in a framework that supposed that workers less subject to a socially attended life--at work or away--would be more undecided about the future. DISCUSSION: Uncertainty is an authentic, meaningful stance toward retirement that theory and research design should not ignore. Just as actual transitions to retirement can be ambiguous or blurred, the expectation of retirement, as well, can be untidy.}, keywords = {Demographics, Employment and Labor Force, End of life decisions, Health Conditions and Status, Healthcare, Methodology, Other, Retirement Planning and Satisfaction, Time Use}, url = {http://psychsoc.gerontologyjournals.org/}, author = {David J Ekerdt and Kyle J Hackney and Karl Kosloski and S. DeViney} } @article {6731, title = {Probability Limits: Are Subjective Assessments Adequately Accurate?}, journal = {Journal of Human Resources}, volume = {36}, year = {2001}, note = {ProCite field 3 : Federal Reserve System; Brown U and NBER}, pages = {327-63}, publisher = {36}, abstract = {The Health and Retirement Study asks respondents their subjective probabilities about 12 future events. An individual{\textquoteright}s responses contain a common component that is unrelated to the true probability of the event in question. Use of the entire set of an individual{\textquoteright}s responses to control for this unobserved individual heterogeneity can improve the information content in responses regarding intergenerational transfer and labor force participation plans. Although there is little overall gain from renormalization, in samples where the respondent may not fully have understood the question adjusting the responses for heterogeneity leads to an improved ability to predict outcomes in later waves.}, keywords = {End of life decisions, Methodology}, doi = {10.2307/3069662}, author = {Bassett, William F. and Lumsdaine, Robin L.} } @article {6683, title = {Estimating Prudence}, journal = {Eastern Economic Journal}, volume = {26}, year = {2000}, note = {ProCite field 3 : Canisius College, NY}, pages = {379-92}, publisher = {26}, abstract = {This study uses an expected utility model of life insurance demand to derive reduced form equations for the Leland-Kimball measures of absolute and relative prudence. The model is estimated for various demographic subgroups using survey data form the University of Michigan{\textquoteright}s Health and Retirement Study. The estimates of relative prudence range from 1.51 to 5.15, with males at the lower end and females at the higher end of the range. Additionally, prudence is higher among older and married cohorts than among younger and unmarried cohorts, respectively; and smokers, drinkers, and risk-takers appear to be less prudent than their respective counterparts.}, keywords = {Consumption and Savings, End of life decisions, Insurance}, url = {https://www.jstor.org/stable/40326439}, author = {Eisenhauer, Joseph G.} } @article {6690, title = {Private Long-term Care Insurance and the Asset Protection Motive}, journal = {The Gerontologist}, volume = {40}, year = {2000}, pages = {596-604}, publisher = {40}, abstract = {This research examined the role of assets in the decision to purchase insurance for long-term care using survey data from the Asset and Health Dynamics Among the Oldest Old (AHEAD) study. Previous research suggests that assets matter, but the size and direction of the effect varies. An important issue regarding the role of assets has not been explored adequately--whether the effect of assets differs between less wealthy and very wealthy individuals. A methodology to control for this type of variation is employed in this analysis. Results suggest that increases in assets have the greatest influence on the probability that less wealthy individuals own long-term care insurance, and have a negligible impact on the wealthy. This has important implications for policies designed to increase long-term care insurance ownership.}, keywords = {Demographics, End of life decisions, Healthcare, Medicare/Medicaid/Health Insurance, Methodology, Net Worth and Assets}, doi = {10.1093/geront/40.5.596}, author = {Jennifer M Mellor} } @article {6582, title = {Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the HRS}, journal = {Quarterly Journal of Economics}, volume = {112}, year = {1997}, pages = {S537-S579}, publisher = {112}, abstract = {This paper reports measures of preference parameters relating to risk tolerance, time preference, and intertemporal substitution. These measures are based on survey responses to hypothetical situations constructed using an economic theorist{\textquoteright}s concept of the underlying parameters. The individual measures of preference parameters display heterogeneity. Estimated risk tolerance and the elasticity of intertemporal substitution are essentially uncorrelated across individuals. Measured risk tolerance is positively related to risky behaviors, including smoking, drinking, failing to have insurance, and holding stocks rather than Treasury bills. These relationships are both statistically and quantitatively significant, although measured risk tolerance explains only a small fraction of the variation of the studied behaviors.}, keywords = {End of life decisions, Health Conditions and Status, Retirement Planning and Satisfaction}, url = {https://www.researchgate.net/publication/5193188_Preference_Parameters_and_Behavioral_Heterogeneity_An_Experimental_Approach_in_the_Health_and_Retirement_Survey}, author = {Barsky, Robert and Miles S Kimball and Juster, F. Thomas and Matthew D. Shapiro} } @article {6554, title = {Profiling Plans for Retirement}, journal = {The Journals of Gerontology: Series B}, volume = {51B}, year = {1996}, publisher = {51}, abstract = {Actual decision making for retirement is largely inaccessible to investigation, yet research can focus on plans as a window into the preretirement process. This article proposes a construct that profiles five generic types of retirement plans, including plans to retire completely, change jobs, never retire, and uncertainty about retirement. The heuristic value of the construct lies in its recognition of the heterogeneity of retirement intentions. The five plan types were operationalized among workers aged 51-61 in the 1992 Health and Retirement Study. Convergent validity was demonstrated by comparisons to analogous survey questions. Construct validity was shown by predictable relationships between intentions and elements of workers{\textquoteright} opportunity structure. The retirement-plans construct can serve as the foundation for a taxonomy of specific retirement plans (e.g., about timing, employment), to organize research on stability and change in retirement intentions, and characterize the path dependence of eventual retirement behavior.}, keywords = {Adult children, Demographics, Employment and Labor Force, End of life decisions, Health Conditions and Status, Methodology, Other, Retirement Planning and Satisfaction}, doi = {10.1093/geronb/51B.3.S140}, url = {https://academic.oup.com/psychsocgerontology/article/51B/3/S140/578592}, author = {David J Ekerdt and Stanley DeViney and Karl Kosloski} }