Uncertainties in the life cycle and how they should be addressed
Joseph Stiglitz, Nobel Laureate 2001
One of the most important economic issues facing all of the advanced industrial countries is savings. In this article I would like summarize some thoughts already expressed in a previous paper , posted on the Trends in Savings and Wealth website. I would like, moreover, to try further highlight some of the difficulties individuals face in making savings decisions and discuss some of the ways in which investor managers can help guide those decisions and, in particular, the part that defaults play in the framework for decision making.
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