Groneck, Max; Ludwig, Alexander; Zimper, Alexander - 2015
-additive survival beliefs expressing ambiguity attitudes. We embed these neo-additive survival beliefs as decision weights in a Choquet … expected utility life-cycle consumption model and calibrate it with data on subjective survival beliefs from the Health and … Retirement Study. Our quantitative analysis shows that agents with calibrated neo-additive survival beliefs (i) save less than …