Showing 1 - 10 of 186
When the financial positions of pension funds worsen, regulations prescribe that pension funds reduce the gap between their assets (invested contributions) and their liabilities (accumulated pension promises). This paper quantifies the business cycle effects and distributional implications of...
Persistent link: https://www.econbiz.de/10011869913
This paper investigates the age-dependency of participation andunemployment by integrating job search with intertemporal optimizing behaviorof finitely-lived households. We find that search frictions and tax ratesdistort the decisions of older workers to a much larger extent than that ofyoung...
Persistent link: https://www.econbiz.de/10011333255
We explore how members of a collective pension scheme can share inflation risks in the absence of suitable financial market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various participants of a collective pension scheme than would be...
Persistent link: https://www.econbiz.de/10013460026
Many everyday activities are habitual. Among the most common human activities is communication. If people primarily communicate in a common-interests environment, they may form habits of truth-telling and believing messages. If they primarily communicate in a conflicting-interests environment,...
Persistent link: https://www.econbiz.de/10012887895
We study the power of social incentives to increase individuals' investment in preventive health using small financial incentives with group conditionality. In a field experiment in El Salvador, we compare those to equivalent individual incentives. Despite the uncertainty about others' behavior,...
Persistent link: https://www.econbiz.de/10014233401
Previous studies have shown that an oath can reduce lying at an individual level. Can oaths reduce lying in groups, a context where the prevalence of lying is typically higher? Results from a lab experiment reveal that the impact of an oath on lying in a group context depends on the incentive...
Persistent link: https://www.econbiz.de/10014390437
We use a laboratory experiment to understand the channels through which honesty oaths can affect behavior and credibility. Using a game with asymmetric information in a financial market setting that captures some important features of advisor-investor interactions, we manipulate the common...
Persistent link: https://www.econbiz.de/10014380769
We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility model generalizes many well known utility functions for intertemporal decision making under risk. A decision maker with a weighted temporal utility function can have time consistent...
Persistent link: https://www.econbiz.de/10010224796
Persistent link: https://www.econbiz.de/10010191023
Persistent link: https://www.econbiz.de/10009720506