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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
October 26, 2011, Annuities, Research, News
Academics propose solution to “annuity puzzle”
Low sales of individual income annuities "should not be viewed as an indicator of underlying preferences but rather as a consequence of institutional factors about the availability and framing of annuity options,” Shlomo Benartzi and Richard Thaler asserted.
“The notion that consumers are simply not interested in annuities is clearly false,” write Shlomo Benartzi, Alessandro Previtero and Richard H. Thaler in “Annuitization Puzzles,” a forthcoming paper in the Journal of Economic Perspectives.
The paper was distributed by the Allianz Global Investors Center for Behavioral Finance, of which Benartzi, a professor at UCLA’s Anderson School of Management, is Chief Behavioral Economist and Thaler, a professor at the University of Chicago Booth School of Business, is a member of the Center’s Academic Advisory Board.
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