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Who is at the Top? Wealth Mobility over the Life Cycle
Hochguertel, Stefan; Ohlsson, Henry - Tinbergen Instituut - 2012
Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the wealth distribution over individual life cycles. There are life-cycle motives and precautionary motives for wealth accumulation. The opportunities to accumulate wealth create...
Persistent link: https://www.econbiz.de/10011255999
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Mapping the Minds of Retirement Planners
Hershey, Douglas A.; Henkens, Kène; Dalen, Hendrik P. van - Tinbergen Instituut - 2006
This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch and American workers. Participants were 988 Dutch and 429 Americans, 25-64 years of age. Analyses were designed to: (a) examine the extent to which structural variables were...
Persistent link: https://www.econbiz.de/10011256396
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Savings Adequacy Uncertainty: Driver or Obstacle to Increased Pension Contributions?
Schie, Ron J.G. van; Donkers, Bas; Dellaert, Benedict G.C. - Tinbergen Instituut - 2012
data from a representative Dutch household panel to study the impact of uncertainty regarding one's savings adequacy on … retirement savings contributions and information search processes. We combine ideas from the literature in psychology and … economics that provide opposing predictions regarding the impact of uncertainty on retirement savings contributions. Our results …
Persistent link: https://www.econbiz.de/10011257076
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US and European Household Debt and Credit Constraints
Crook, Jonathan; Hochguertel, Stefan - Tinbergen Instituut - 2007
consumption models, including a numerically solved precautionary savings model. We find that inter-country differences are …
Persistent link: https://www.econbiz.de/10011257319
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Continuous Beliefs Dynamics
Diks, Cees; Weide, Roy van der - Tinbergen Instituut - 2003
We propose a general framework for studying the evolution ofheterogeneous beliefs in a dynamic feedback setting. Beliefsdistributions are defined on a continuous space representingthe possible strategies agents can choose from. Agents base theirchoices on past performances. As new information...
Persistent link: https://www.econbiz.de/10011249542
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Heterogeneity as a Natural Source of Randomness
Diks, Cees; Weide, Roy van der - Tinbergen Instituut - 2003
We propose a new framework for studying the evolution of heterogeneous beliefs in a dynamic feedback setting. Beliefs distributions are defined on a beliefs space representing a continuum of possible strategies agents can choose from. Agents base their choices on past performances, re-evaluating...
Persistent link: https://www.econbiz.de/10011255553
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Memory, Expectation Formation and Scheduling Choices
Koster, Paul; Peer, Stefanie; Dekker, Thijs - Tinbergen Instituut - 2014
Limited memory capacity, retrieval constraints and anchoring are central to expectation formation processes. We develop a model of adaptive expectations where individuals are able to store only a finite number of past experiences of a stochastic state variable. Retrieval of these experiences is...
Persistent link: https://www.econbiz.de/10011255773
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Expectations in Experiments
Wagener, Florian - Tinbergen Instituut - 2013
The rational expectations hypothesis is one of the cornerstones of current economic theorising. This review discusses a number of experiments that focus on expectation formation by human subjects and analyses the implications for the rational expectations hypothesis. The experiments show that...
Persistent link: https://www.econbiz.de/10011257595
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Who can predict their own Demise? Accuracy of Longevity Expectations by Education and Cognition
d'Uva, Teresa Bago; Ciftci, Esen Erdogan; O'Donnell, Owen; … - Tinbergen Instituut - 2015
probabilities that are less accurate in predicting their in-sample mortality. There is little evidence that the gradients in the … veracity of expectations are due to the less educated and cognitively able responding less to changes in objective mortality …
Persistent link: https://www.econbiz.de/10011275101
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The Impact of Financial Education for Youth in Ghana
Berry, James; Karlan, Dean; Pradhan, Menno - Tinbergen Instituut - 2015
offered financial education. Both programs included a voluntary after-school savings club that provided students with a locked … money box. After nine months, both programs had significant impacts on savings behavior relative to the control group …, mostly because children moved savings from home to school. We observed few other impacts. We do find that financial education …
Persistent link: https://www.econbiz.de/10011256124