Table 2. How Expected Claiming Age Varies with Framing.
Note: Dependent variable is expressed as the difference between the expected claiming age and the baseline claiming age in number of months (unweighted data).
| All ages | Age >=50 | |||||||
|---|---|---|---|---|---|---|---|---|
| Frames | Wave 1.1 | All waves | All waves | All waves | Wave 1.1 | All waves | All waves | All waves |
| Breakeven | −20.11*** (3.384) | −20.52*** (1.523) | −19.04*** (0.913) | −21.95*** (1.166) | −20.71*** (4.028) | −19.93*** (1.880) | −17.83*** (1.232) | −20.39*** (1.582) |
| Symmetric | −9.809*** (3.359) | −6.303*** (1.533) | −3.307*** (0.915) | −3.876*** (1.183) | −12.49*** (4.109) | −7.233*** (1.893) | −3.546*** (1.235) | −3.820** (1.595) |
| Consumption | −0.85 (1.922) | −0.169 (0.832) | 0.325 (0.494) | 0.70 (0.634) | 0.88 (2.323) | −0.212 (1.031) | 0.375 (0.671) | 1.12 (0.869) |
| Loss | −4.761* (2.679) | −3.966*** (1.177) | −2.271*** (0.703) | −1.854** (0.894) | −6.394** (3.250) | −4.546*** (1.466) | −2.361** (0.957) | −1.191 (1.228) |
| Age 62 | −5.655** (2.572) | −4.470*** (1.160) | −2.695*** (0.691) | −3.073*** (0.891) | −3.22 (3.133) | −2.608* (1.440) | −2.342** (0.941) | −2.687** (1.214) |
| Age 70 | 4.34 (2.852) | 0.740 (1.196) | 1.169 (0.721) | 0.78 (0.899) | 2.99 (3.421) | 1.753 (1.475) | 1.444 (0.978) | −0.05 (1.212) |
| Constant | 20.76*** (2.075) | 20.88*** (0.927) | 19.13*** (0.546) | 19.13*** (0.825) | 17.90*** (2.482) | 18.32*** (1.139) | 16.68*** (0.734) | 15.95*** (1.126) |
|
| ||||||||
| Fixed effects | No | No | Yes | Yes | No | No | Yes | Yes |
| Prior frame controls | No | No | No | Yes | No | No | No | Yes |
|
| ||||||||
| N | 1,236 | 6,818 | 6,818 | 6,818 | 617 | 3,394 | 3,394 | 3,394 |
| R-squared | 0.036 | 0.029 | 0.093 | 0.11 | 0.058 | 0.038 | 0.091 | 0.122 |
| Number of id | 1,442 | 1,442 | 707 | 707 | ||||
Notes: Consumption is an indicator equal to 1 if frame is a consumption frame, Loss is an indicator equal to 1 if frame is a loss frame, Age 62 is an indicator equal to 1 if anchoring age in the frame is 62, Age 70 is an indicator equal to 1 if anchoring age in the frame is 70. Standard errors in parentheses.
***
p<0.01,
**
p<0.05,
*
p<0.1.
In columns 3,4, 7 and 8, “number of id” refers to the number of unique individuals in the fixed effects analysis.