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dc.contributor.authorStupar, David
dc.date.accessioned2013-09-23T11:02:12Z
dc.date.available2013-09-23T11:02:12Z
dc.date.copyright2013
dc.date.issued2013-09-23
dc.identifier.urihttp://hdl.handle.net/11250/187540
dc.description.abstractABSTRACT The pension system in Norway has been challenged since the implementation of pension reforms in 2011. In line with the expected increase in the future pension burden, the government’s intention is to build up an economic and social sustainable pension system, motivate people to continue working and provide satisfactory income distribution. The main focus of my thesis is the aspect of the pension reforms that raised huge controversy and resistance among employees in Norway. A completely reformed occupational pension system is supposed to go into effect in 2014 and that might result in substantial shift from defined benefit to defined contribution scheme. That further involves active participation of employees in retail investment market and eventually managing investment portfolio on their own. Are they prepared to be independent players in this market and how successful in making decisions are the aspects I have tested in my thesis. Experimental results are not so promising. The key findings: • Responders struggle to make optimal investment decisions. Male, self-employed, wealthier, higher educated and numerate individuals have greater chances to select optimal choice • Participants have been influenced by behavioural biases and framing effects • People are not confident in financial industry and they are quite insecure in retirement income adequacy • Responders tend to be risk averse, seek to minimise losses rather than maximise gains Government regulative of investment retail market and strategic cooperation with the employers could make better investment environment and facilitate successful implementation of pension reforms. Key words: Pension reforms, Decision making, Investments, Risk, Behavioural biasesno_NO
dc.language.isoengno_NO
dc.publisherNorwegian University of Life Sciences, Ås
dc.subjectPension reformsno_NO
dc.subjectDecision makingno_NO
dc.subjectInvestmentsno_NO
dc.subjectRiskno_NO
dc.subjectBehavioural biasesno_NO
dc.titleNorwegian consumers’ ability to make optimal financial decisions and save for retirement : a behavioural economic perspectiveno_NO
dc.typeMaster thesisno_NO
dc.subject.nsiVDP::Social science: 200::Economics: 210no_NO
dc.subject.nsiVDP::Social science: 200::Sociology: 220no_NO
dc.source.pagenumber75no_NO


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