This grant funds a project by economist Susan Rohwedder of the RAND Corporation to examine the psychological factors in individuals’ planning and subsequent decisions about the timing and staging of their decisions to work beyond conventional retirement age and how and when to transition from work to retirement.  Rohwedder and her team will investigate whether and to what extent psychological factors such as cognitive abilities, beliefs about the future, and personality explain differences in individuals’ staging and timing of late-in-life work decisions and subsequent retirement. While psychological factors have been shown to play an important role in various domains of individual decision-making, they have received little attention so far in the context of the complex decisions involved in late-in-life work choices and retirement transitions. Bringing together a cross-disciplinary team with expertise in cognitive psychology and classical and behavioral economics, they hope to fill this gap.