Pensioners have increasingly more control over their income streams as a result of<br/>pension reforms, which gives them more freedom to save for their old age. We devise an experiment where subjects face a life-cycle optimization task with lifetime uncertainty and a given lifetime income. The aims...

Abstract: Using a dataset for a demographically representative sample of the Dutch population, containing a revealed preference risk attitude measure, as well as very detailed information about participants’ religious background, we study three issues raised in previous literature. First, we...

We conduct an experiment to study the prevalence of the higher order risk attitudes of prudence and temperance, in a large demographically representative sample, as well as in a sample of undergraduate students. Participants make pairwise choices between lotteries of the form proposed by...

Over the past decades there has been an increasing use of panel surveys at the household or individual level, instead of using independent cross-sections. Panel data have important advantages, but there are also two potential drawbacks: attrition bias and panel conditioning effects. Attrition...

Abstract: Field-experimental studies have shown that people litter more in more littered environments.Inspired by these findings, many cities around the world have adopted policies to quickly remove litter. While such policies may avoid that people follow the bad example of litterers, they may...

This article shows that respondents gain meaning from visual cues in a web survey as well as from verbal cues (words).We manipulated the layout of a five point rating scale using verbal, graphical, numerical, and symbolic language. This paper extends the existing literature in four directions:...

We specify and estimate an econometric model which separately identifies distributional preferences and the effects of perceived intentions on responder behavior in the ultimatum game. We allow the effects of perceived intentions to depend, among other things, on the subjective probabilities...

Differences in answers in Internet and traditional surveys can be due to selection, mode, or context effects. We exploit unique experimental data to analyze mode and context effects controlling for arbitrary selection. The Health and Retirement Study (HRS) surveys a random sample of the US 50+...

In interpreting questions, respondents extract meaning from how the information in a questionnaire is shaped, spaced, and shaded. This makes it important to pay close attention to the arrangement of visual information on a questionnaire. Respondents follow simple heuristics in interpreting the...

In this paper we investigate whether there are differences in design effects between trained and fresh respondents. In three experiments, we varied the number of items on a screen, the choice of response categories, and the layout of a five point rating scale. We find that trained respondents...