Showing 1 - 10 of 154
another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple … change consumption according to the suggestion of the label. A controlled laboratory experiment confirms this result and …
Persistent link: https://www.econbiz.de/10005822688
This paper finds declining consumption expenditure between paydays, for a typical household in the working population of the UK. The magnitude is inconsistent with exponential time preference, but compatible with quasi-hyperbolic discounting. However, the hyperbolic model predicts that credit...
Persistent link: https://www.econbiz.de/10005703008
We model how people formulate and evaluate goals to overcome self-control problems. People often attempt to regulate their behavior by evaluating goal-related outcomes separately (in narrow psychological accounts) rather than jointly (in a broad account). To explain this evidence, our theory of...
Persistent link: https://www.econbiz.de/10009144852
In this chapter we propose a new, dual-process model of labor supply, which incorporates both cognitive and affective aspects of decision-making. Consistent with evidence from neuroscience, the worker may experience conflicting cognitive and affective motivations during the workday. In...
Persistent link: https://www.econbiz.de/10005763926
We analyze the impact of an increase in the risk of divorce on the saving behaviour of married couples. From a … in 1996 as an exogenous increase in the likelihood of marital dissolution. We analyze the saving behaviour over time of … propensity to save of married couples, consistent with a rise in precautionary savings interpretation. An increase in the risk of …
Persistent link: https://www.econbiz.de/10005233842
expenditure taxation, by exempting the "normal return" to saving and taxing only "excess returns" on the same tax schedule as …
Persistent link: https://www.econbiz.de/10010552954
average saving rate decreased by eight percentage points. Over the same period the US experienced a substantial increase in … inequality and a continuous decrease in the aggregate saving rate. We propose an explanation based on interpersonal comparisons … consistent with these trends. When households care about their consumption relative to others, individual saving rates decrease …
Persistent link: https://www.econbiz.de/10010604098
The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...
Persistent link: https://www.econbiz.de/10005762141
Private wealth holdings are likely to become an increasingly important determinant in the job exit decision of elderly workers. Net wealth may correlate with worker’s characteristics that also determine the exit out of a job. It is therefore important to include a rich set of observed...
Persistent link: https://www.econbiz.de/10005762255
This paper extends the standard model of life cycle consumption, saving and labor supply in a number of directions … behaviour in respect of female labour supply and saving, and provide evidence to show that these are very closely related across …
Persistent link: https://www.econbiz.de/10005762285