Demand for reverse mortgages: Behavioral explanation
娄汉林，新南威尔士大学商学院研究员，悉尼科技大学经济学博士。主要研究领域为行为经济学，应用计量经济学，金融经济学以及卫生经济学。其研究通过线上实验室实验与现场试验来探索如何利用信息干预来影响个人决策。
Abstract
We study the impact of behavioral factors on the stated demand for reverse mortgages. Retired households typically hold a large proportion of their wealth in housing. Economic theory suggests that reverse mortgages should be popular, but markets world-wide are small. Using expected utility analysis we show that that a reverse mortgage could be beneficial to a range of Australian retiree households. We then field an online experimental survey to explore the role of behavioral factors - specifically mental accounting, narrow bracketing and complexity - on the stated demand for reverse mortgages for a sample of 882 homeowners of around retirement age. We find that information framing to reduce complexity improves product knowledge, while information framing to offset mental accounting and narrow bracketing motivates the stated demand for reverse mortgages, particularly for high housing wealth/low income households. For the full sample, demand on the extensive margin is associated with economic factors, preferences and poor product perceptions, while behavioral factors play a greater role in demand on the intensive margin.
主持人
付博文
澳门新葡京app-新葡京下载
助理教授
悉尼科技大学经济学博士
时间
2024年4月12日（周五）
下午16:15-17:30
地点
湖南大学财院校区-水上教学楼211
