a two-period consumption and savings model for a loss-averse agent who measures utility from consumption relative to a … of the return on saving. We find non-linearity in the fraction of wealth saved, where the specific saving pattern depends … on the sign of the real return on savings. The amount of saving is nondecreasing in initial wealth and the riskiness of …

two-period consumption and savings model for a loss-averse agent who measures utilityfrom consumption relative to a … of the return on saving. We find non-linearity in the fractionof wealth saved, where the specific saving pattern depends … on the sign of the real return on savings. The amount of saving is nondecreasing in initial wealth and the riskiness of …

actually deceiving anyone. The design should be suitable for most economics experiments, and works by a modification of an … deception is used and the data cohere well both internally and with other public goods experiments. In addition, simultaneous …