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The impact of financial education on adolescents' intertemporal choices
Lührmann, Melanie; Serra-Garcia, Marta; Winter, Joachim - 2014
We examine the impact of a large high-school financial education program on the intertemporal choices of adolescents. We randomly assigned the program among a sample of almost 1,000 students and measured their intertemporal choices using an incentivized experiment. While intertemporal choices in...
Persistent link: https://www.econbiz.de/10010388672
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Time preferences over the life cycle and household saving puzzles
Kureishi, Wataru; Paule-Paludkiewicz, Hannah; … - 2021
cycle. Decreasing discounting helps a canonical life-cycle model to explain the household saving puzzles of undersaving when …
Persistent link: https://www.econbiz.de/10012486383
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MPC heterogeneity and household balance sheets
Fagereng, Andreas; Holm, Martin Blomhoff; Natvik, Gisle … - 2018
to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and …
Persistent link: https://www.econbiz.de/10011872933
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Modigliani meets minsky : inequality, debt, and financial fragility in America, 1950-2016
Bartscher, Alina K.; Kuhn, Moritz; Schularick, Moritz; … - 2020
This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and … financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in … increase in U.S. household debt between the 1970s and 2007. The resulting debt increase made balance sheets more sensitive to …
Persistent link: https://www.econbiz.de/10012213102
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Financial literacy, risk and time preferences : results from a randomized educational intervention
Sutter, Matthias; Weyland, Michael; Untertrifaller, Anna; … - 2020
We present the results of a randomized intervention in schools to study how teaching financial literacy affects risk and time preferences of adolescents. Following more than 600 adolescents, aged 16 years on average, over about half a year, we provide causal evidence that teaching financial...
Persistent link: https://www.econbiz.de/10012260969
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Financial literacy, experimental preference measures and field behavior : a randomized educational intervention
Sutter, Matthias; Weyland, Michael; Untertrifaller, Anna; … - 2023
We present the results of a randomized intervention to study how teaching financial literacy to 16-year old high-school students affects their behavior in risk and time preference tasks. Compared to two different control treatments, we find that teaching financial literacy makes subjects behave...
Persistent link: https://www.econbiz.de/10014261310
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Adaptation, anticipation-bias and optimal income taxation
Aronsson, Thomas; Schöb, Ronnie - 2012
Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers...
Persistent link: https://www.econbiz.de/10009570029
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Carbon prices for the next thousand years
Gerlagh, Reyer; Liski, Matti - 2012
Climate is a persistent asset, bar none: changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, we consider hyperbolic time-preferences in...
Persistent link: https://www.econbiz.de/10009570590
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Long-term care policy, myopia and redistribution
Cremer, Helmuth; Roeder, Kerstin - 2012
This paper examines whether myopia (misperception of the long-term care (LTC) risk) and private insurance market loading costs can justify social LTC insurance and/or the subsidization of private insurance. We use a two-period model wherein individuals differ in three unobservable...
Persistent link: https://www.econbiz.de/10009570729
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Once upon a time preference : how rationality and risk aversion change the rationale for discounting
Traeger, Christian - 2012
The paper develops an axiomatic framework for rational decision making. The von Neumann-Morgenstern axioms give rise to a richer risk attitude than that captured in the standard discounted expected utility model. I derive three models that permit a more comprehensive risk evaluation. These...
Persistent link: https://www.econbiz.de/10009533970