Many young people shouldn't save for retirement, says research based on a Nobel Prize-winning theory

New, however, indicates that many young people should not save for retirement.  The reason has to do with something called the , which suggests that rational individuals allocate resources over their lifetimes with the aim of avoiding sharp changes in their standard of living. Put another way, individuals, according to the model which dates back to economists , a Nobel Prize winner, and Richard Brumberg in the early 1950s, seek to smooth what... + full article