PT - JOURNAL ARTICLE AU - Meir Statman TI - Practical Applications of Standard and Behavioral Life-Cycle Theories and Public Policy AID - 10.3905/pa.6.3.303 DP - 2019 Jan 31 TA - Practical Applications PG - 1--4 VI - 6 IP - 3 4099 - https://pm-research.com/content/6/3/1.9.short 4100 - https://pm-research.com/content/6/3/1.9.full AB - In Standard and Behavioral Life-Cycle Theories and Public Policy, from the Fall 2017 issue of The Journal of Retirement, author Meir Statman, a professor of finance at Santa Clara University, contrasts two different approaches to understanding how people think about saving and spending over their lifetimes. Standard life-cycle theory assumes a smooth, conflict-free approach toward money. In contrast, behavioral life-cycle theory allows for a range of utilitarian, expressive, and emotional attitudes. People can benefit from third-party assistance by financial advisors and public policy to come up with a balanced plan.TOPICS: Retirement, in wealth management, social security, legal/regulatory/public policy