Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper develops a simulation model to test whether standard implications of the theory on cash management and payment choices can explain the use of payment instruments by transaction size....

In this paper we study why, and when, and in what form, a satisficing strategy is a better bet for survival, than a strategy which uses the best available information in attempting to optimize the outcome. We prove that, under severe uncertainty, a robust-satisficing decision has a better...

One popular view on the current strength of the US dollar is that the higher growth in the US compared to Europe has stimulated foreigners to buy American assets, thereby driving up the exchange rate. In this paper a modified portfolio balance model is presented, in which it is shown that the...

One popular view on the current strength of the US dollar is that the higher growth in the US compared to Europe has stimulated foreigners to buy American assets, thereby driving up the exchange rate. In this paper a modified portfolio balance model is presented, in which it is shown that the...

The focus of this paper in on the effect that changes in income and financial assets have on household consumption in the Netherlands over the period 2009-2012. The empirical evidence is based on the LISS panel, a longitudinal survey representative of the Dutch-speaking population conducted and...

A limited understanding of mortgage contracts and the risks involved may have contributed to the origination of the financial crisis. We have designed a special questionnaire to relate mortgage loan decisions to financial literacy and financial advice. Our findings show that homeowners seem well...

Survey data show that many respondents save for retirement in unconventional retirement accounts, such as investments in real estate. In countries where retirement savings are not mandatory for self-employed, representatives of this group often report this as an argument against making...

Using shopping diary survey data we show that changing payment patterns is a challenging task; even when consumers have fallen in love with the debit card, they find it hard to divorce from cash. While seven out of ten Dutch consumers report to prefer using the debit card, only seven out of...

This study presents an overview of the main characteristics of the CentERpanel as well as of the DNB Household Survey, a longitudinal database of economic and psychological aspects of financial behaviour of Dutch households run at CentERdata, Tilburg University and sponsored by De Nederlandsche...

This study investigates whether individual choices in the pension domain are vulnerable to the way alternatives are communicated to respondents. The analysis is based on a set of hypothetical questions posed in the DNB House-hold Survey as well as in the RAND American Life Panel on pension...