Consistent with the global trend to shift responsibility for retirement income provision from the public purse to individuals has been encouragement to save more and to manage investment strategy. Analyzing data from 2,300 respondents to a randomly distributed questionnaire, this article focuses on the motivational importance of social norms. The…

The story of Bernard Madoff rivals outrageous fiction. It was astonishing that this seemingly kindly, respectable financier, a pioneer in electronic trading, a founding partner in the Nasdaq exchange, turned out to have been running a $65-billion Ponzi scheme that victimized country-club elites, middle-class retirees, foundations, universities,…