Archive: Lei Yu

Senior couple and tecnologies

The brief’s key findings are: With the shift from traditional pensions to 401(k) plans, the welfare of retirees depends increasingly on their ability to make sound financial decisions. Using a dataset that follows a group of older individuals in the Chicago area, the analysis examines how aging affects financial decision making. Participants who suffer cognitiv…

Smiling woman eating green apple.

Abstract Financial fraud is a major threat to older Americans, and this problem is expected to grow as the baby boom generation retires and more retirees manage their own retirement accounts.  We use a unique dataset to examine the causes and consequences of financial fraud among older Americans.  First, we find that decreasing cognition is…