Optimism and economic choice
By: Manju Puri, David Robinson.
Contributors: Robinson, David, 1958-; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11361; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11361.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Optimism.; Finance, Personal.; Consumers' preferences.; Consumption (Economics)
Description: "This paper presents some of the first large-scale survey evidence linking optimism to major economic choices.  We create a novel measure of optimism using the Survey of Consumer Finance by comparing a person's self-reported life expectancy to that implied by statistical tables.  Optimists are more likely to believe that future economic conditions will improve.  Self-employed respondents are more optimistic than regular wage earners.  In general, more optimistic people work harder and anticipate longer age-adjusted work careers.  They are more likely to remarry, conditional on divorce.  In addition, they tilt their investment portfolios more toward individual stocks"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Also available in print.
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Mode of access: World Wide Web.