Annuities, Financial Literacy, and Information Overload - Oxford Scholarship Jump to ContentJump to Main Navigation
Financial Literacy: Implications for Retirement Security and the Financial Marketplace$
Users without a subscription are not able to see the full content.

Olivia S. Mitchell and Annamaria Lusardi

Print publication date: 2011

Print ISBN-13: 9780199696819

Published to Oxford Scholarship Online: January 2012

DOI: 10.1093/acprof:oso/9780199696819.001.0001

Subscriber Login

Forgotten your password?

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2015. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see http://www.oxfordscholarship.com/page/privacy-policy).date: 24 July 2016

Annuities, Financial Literacy, and Information Overload

Annuities, Financial Literacy, and Information Overload

Chapter:
(p.158) Chapter 9 Annuities, Financial Literacy, and Information Overload
Source:
Financial Literacy: Implications for Retirement Security and the Financial Marketplace
Author(s):

Julie Agnew

Lisa Szykman

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199696819.003.0009

This chapter investigates how financial literacy and information overload influence the decision to purchase an annuity and how they relate to subsequent confidence and satisfaction. Using a dataset from a large-scale experiment, we find that as financial literacy increases, information overload decreases. In addition, people who experience higher levels of information overload are less confident in their choice and are less satisfied with their decision. We recommend that educators and retirement plan architects consider simplifying the decision environment in addition to improving financial literacy with the goal of increasing investor confidence and satisfaction.

Keywords:   annuity, financial literacy, investment, education, retirement, market, annuitize

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .