Time is Money: Life Cycle Rational Inertia and Delegation of Investment Management
NBER Working Paper No. 19732
---- Acknowledgements -----
Research support was provided by NIH/NIA Grant # P30 AG12836 and NIH/NICHD Population Research Infrastructure Program R24 HD-044964, and the Pension Research Council/Boettner Center for Pensions and Retirement Security, at the University of Pennsylvania, and the Metzler Exchange Professor program at the Goethe University of Frankfurt. Without implicating them, we appreciate helpful comments from Santosh Anagol, Alex Gelber, Itay Goldstein, Dana Kiku, Jialun Li, David Musto, Greg Nini, Kent Smetters, Robert Stambaugh, Jeremy Tobacman, Steve Utkus, Jacqueline Wise, and Jessica Wachter. Opinions and any errors are solely those of the authors. All findings, interpretations, and conclusions of this paper represent the views of the authors and not those of the Wharton School, the Pension Research Council, or the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Olivia S. Mitchell -----
Mitchell serves as a Trustee for the Wells Fargo Advantage Funds and has received more than $10,000 from the TIAA-CREF Institute and RAND for research studies on retirement security.