Stated Preference Analysis of Full and Partial Retirement in the United States

Preference theory in advanced age and the older Czech workforce

“…In some preliminary analysis (here omitted) we also find some clues that work-oriented people tend to have a lower subjective age, better subjective health, a stronger feeling that they have personal control over their lives (feeling of agency and internal locus of control) and what could be especially interesting for future deeper inquiry, they are more active in actually preparing themselves for later life in terms of savings, a healthy lifestyle, looking for adequate housing, getting information about available social services etc. Our data agree with the suggestions of Kantaraci and van Soest (2013) that individuals who are attached to the labour market for non-economic reasons are significantly more likely to remain in the labour market, as here too the intrinsic value of work and activity itself seems to be the key. The work-oriented older individuals do stand out as proper active ageing models within their respective age cohorts, because according to the European Value Survey results for the Czech Republic the importance of work is highest among 30-44 yearolds (Rabušic and Hamanová 2009).…”

“…perceived as ideal) labour market exit strategy (cf. for example van Soest and Vonková (2014) or Kantarci and van Soest (2013) for a discussion on merits of stated preferences in the retirement decision surveys), and self-identification with provided life-style vignette (see Tab. 3). In the surveyed population answers to the above selected questions were as follows: to the question regarding commitment to continue work in concurrence with retirement despite having enough income from the pension alone, 16% of the respondents answer yes, 30% are not sure and would make decisions based on the circumstances and 54% of the respondents claim to be not interested in continuing economic activity.…”