By Meir Statman
In his latest book, 'Finance for Normal People: How Investors and Markets Behave,' Prof. Statman describes the behavioral-wants frontier. He contends that people seek 'utilitarian, expressive and emotional' benefits from what they buy.
By Robert C. Merton and Arun Muralidhar
The Nobel Prize-winning economist and his colleague propose a new way to turn DC savings into retirement income. It involves 'Standard of Living Indexed, Forward-Starting, Income-Only Securities' (SeLFIES), an unprecedented government bond.
By Jonathan B. Forman and Michael J. Sabin
“Survivor funds,” which offer mortality credits but aren’t annuities, could provide investors with enhanced returns, these authors claim. But, for some, loss of principal would be certain. (Painting of New York's Tontine Coffee House by Streeter Blair, 1953)
By Kerry Pechter
At the NAPA 401k Summit in Las Vegas this week, nearly 2,000 plan sponsor advisors et al worried about policy threats to their industry. At nearby slots and gaming tables, middle-class Americans fecklessly squandered their nest eggs.