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Cognitive Reflection and Social Proof: Navigating Complex Tax Incentives for Retirement Savings

Thanee Chaiwat1,2, Athiphat Muthitacharoen2, Chanalak Chaisrilak1

  • 1Center for Behavioral and Experimental Economics (CBEE) and Faculty of Economics, Chulalongkorn University (Thailand), Bangkok, Thailand.

Journal of Aging & Social Policy
|April 30, 2024
PubMed
Summary

Individuals with higher cognitive reflection scores are more likely to use complex retirement tax incentives. Social proof is more influential for those with lower cognitive reflection, impacting retirement savings decisions.

Keywords:
Cognitive reflectioncomplexityretirement savingsocial prooftax incentives

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