Public policies to reduce financial fragility in older adults through changes in choice architecture

• Ano de defesa: 2024
• Autor(a) principal: Oriol, Ettore de Carvalho
• Orientador(a): Gomes, Ricardo Corrêa
• Tipo de documento: Tese
• Tipo de acesso: Acesso aberto
• Idioma: eng
• Palavras-chave em Português: Arquitetura da escolha; Processo decisório; Economia - Aspectos psicológicos; Idosos - Aposentadoria; Políticas Públicas - Brasil
• Palavras-chave em Inglês: Architecture of choice; Decision-making process; Economics - Psychological aspects; Older Adults - Retirement; Public policies - Brazil
• Link de acesso: https://hdl.handle.net/10438/35154

Starting from two gaps identified in the literature review, “need for studies to understand the policy-making process of policies targeting older adults” and “lack of studies pointing to possible scales that can be used to access information secondary databases cannot provide,” we proposed following thesis: “Public Policies for Changes in Choice Architecture can be used to influence the adoption or rejection of habits that are influencing Financial Fragility in Older Adults." This thesis is based upon two central concepts: Financial Fragility, defined as "'the [capacities] of households to withstand financial shocks, usually by looking at their levels of savings and access to credit" (Lusardi et al., 2011, p. 2), and Choice Architecture, defined by “the way a choice is presented influences what a decision-maker chooses” (Johnson et al., 2012, p. 1). Based on these concepts, the thesis is developed in four articles as follows: The first article depicts the state of the art in the subject of Financial Fragility in Older Adults; the second article, building a scale for Measuring the Influence of Changes in the Choice Architecture on the Intention to Save for the Future; third article test the possibility to Reducing Financial Fragility in Older Adults through Public Policies for Changes in Choice Architecture Through Changes in Planned Financial Behavior; fourth Article identify factor Beyond Retirement Planning: Factors Influencing Financial Fragility in Older Adults. The theoretical contribution of the thesis can be listed in three points: a) construction of the perception scale on the influence of government actions that change the choice architecture via public policies related to financial behavior, producing knowledge that helps to solve the gap “lack of studies pointing to possible scales that can be used to access information secondary databases cannot provide"; b) modeling and testing the influence of public policies to change the choice architecture in Financial Planned Behavior and consequently in FFOA, contributing to closing the gap, “need for studies to understand the policy-making process of policies targeting older adults"; c) identification of the main habits that increase or reduce FFOA beyond financial preparation for retirement, closing the story on the subject and providing positive proof of the proposed thesis. With this, we start by identifying the gap, proposing solutions, testing, and recognizing what habits must be encouraged or mitigated to reduce FFOA. By closing the gap identified in the literature review and proving the proposed thesis, we enable the application by public managers and public policymakers of the knowledge generated with the development of the scale that can be applied to access which actions to change the architecture of choices have the most significant effect on changing the financial habits of the target audience of the public policy they are developing. Furthermore, these managers can direct these actions to habits that positively affect the reduction of FFOA, as these habits were identified and listed objectively during the proposed study.