Australian retirees' preferences between consumption, government pension, bequest and housing

Jie Ding

Research output: Contribution to journalMeeting abstract

Abstract

Purpose: Develop and calibrate a utility model with realistic assumptions to model the financial behaviours of Australian retirees Research limitations/implications: This research attempts to model the financial behaviour of Australians in average. However the assumption that a single utility function with a particular set of parameters is applicable for everyone, suffers from the lack of variability. Practical and Social implications: Knowing the financial preference of Australian retirees helps with financial planning in practice. We can model people’s reaction to a certain change in public policy, if we assume the change in modelled behaviour will be similar to the change in their actual behaviour.
Original languageEnglish
Pages (from-to)27-28
Number of pages2
JournalExpo 2012 Higher Degree Research : book of abstracts
Publication statusPublished - 2012
EventHigher Degree Research Expo (8th : 2012) - Sydney
Duration: 12 Nov 201213 Nov 2012

Keywords

  • utility
  • financial planning
  • dynamic programming
  • age pension

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