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Complexity and Biases
Kalaycı, Kenan; Serra-Garcia, Marta - Volkswirtschaftliche Fakultät, … - 2012
We examine experimentally the effect of complexity on individual decision making. We focus on credit choices, as they …
Persistent link: https://www.econbiz.de/10011210868
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Hidden Skewness: On the Difficulty of Multiplicative Compounding under Random Shocks
Ensthaler, Ludwig; Nottmeyer, Olga; Weizsäcker, Georg; … - CESifo - 2014
Multiplicative growth processes that are subject to random shocks often have a skewed distribution of outcomes. In a number of incentivized laboratory experiments we show that a large majority of participants either strongly underestimate skewness or ignore it completely. Participants...
Persistent link: https://www.econbiz.de/10010764292
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The psychological cost of saving – an agent-based modelling approach
DRUICA, Elena; IANOLE, Rodica; CORNESCU, Viorel - In: Romanian Journal of Economics 39 (2014) 2(48), pp. 34-48
In this paper, an alternative hypothesis to the standard economic models of saving is proposed, based on new research in behavioral and computational economic. The importance of traditional factors of influence for saving is acknowledged, but the explanatory spectrum is extended by focusing on...
Persistent link: https://www.econbiz.de/10011105952
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Household Debt: Facts, Puzzles, Theories, and Policies
Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2014
macroeconomics and industrial organization. I review theoretical and empirical work on household debt: its prevalence, level, growth …
Persistent link: https://www.econbiz.de/10010951247
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Small Cues Change Savings Choices
Choi, James J.; Haisley, Emily; Kurkoski, Jennifer; … - National Bureau of Economic Research (NBER) - 2012
In randomized field experiments, we embedded one- to two-sentence anchoring, goal-setting, or savings threshold cues in emails to employees about their 401(k) savings plan. We find that anchors increase or decrease 401(k) contribution rates by up to 1.9% of income. A high savings goal example...
Persistent link: https://www.econbiz.de/10009493271
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Do positional goods inhibit saving? Evidence from a life-cycle experiment
Feltovich, Nick; Ejebu, Ourega-Zoé - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 440-454
We investigate the effect of positional goods (goods for which one's consumption relative to others’ matters) on saving, based on results from a life-cycle consumption/saving experiment. In a Group treatment, we allow inter-personal comparisons by assigning subjects to groups and displaying...
Persistent link: https://www.econbiz.de/10011116860
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What Influences the Savings Decisions of the Hungarian Population?
Kökény, Annamária Horváthné; Széles, Zsuzsanna - In: Public Finance Quarterly 59 (2014) 4, pp. 425-443
We created a theoretical model of the main factors that influence household savings based on our secondary research … population is of key importance. Four household types were distinguished from each other: 1. “Wishing to provide for themselves … four household types believe that the primary focus should be on the education of vocational and high school students …
Persistent link: https://www.econbiz.de/10011122504
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Consumer Financial Behavior
Raaij, W. Fred van - In: Foundations and Trends(R) in Marketing 7 (2014) 4, pp. 231-351
Consumer financial behavior is a domain between micro-economics, behavioral finance, and marketing. It is based on insights and behavioral theories from cognitive, economic, and social psychology (biases, heuristics, social influences), in the context of and sometimes in conflict with...
Persistent link: https://www.econbiz.de/10011078384
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Financial Risk Aversion and Personal Life History
Bucciol, Alessandro; Zarri, Luca - Dipartimento di Scienze Economiche, Facoltà di Economia - 2013
Though risk attitude is central to economics and finance, relatively little is known about how it is formed and how it changes over time. Based on US data from a dedicated psycho-social module on lifestyle of the 2010 Health and Retirement Study (HRS), we provide new evidence on the correlation...
Persistent link: https://www.econbiz.de/10010857809
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Merchant steering of consumer payment choice: Evidence from a 2012 diary survey
Stavins, Joanna; Shy, Oz - In: Journal of Behavioral and Experimental Economics … 55 (2015) C, pp. 1-9
received a cash or debit card discount, and even fewer were subjected to a credit card surcharge. We attribute this finding in ….” Transactions at gasoline stations were more likely to receive either cash discounts or credit card surcharges than transactions in …
Persistent link: https://www.econbiz.de/10011264253