whether subjects treat debt differently than savings. Two treatments create environments where either saving or borrowing is …

. We embed this idea in a standard model of consumption-savings decisions: households pursue simple quick-fix consumption … policies unless they pay a cost to optimize. We design a novel survey to explore this theory. The survey elicits households …-level consumption policies. Consistent with the theory, 68% of households follow one of four simple quick-fix consumption rules that …

the consumption level of all households who are perceived to be richer, on household savings and consumption. When …

This paper studies consumption and savings decisions of Danish households before and during the financial crisis as …

-income households were slightly more affected than others due to their consumption patterns. The savings rate also depends on employment …

the savings position plays a crucial role, as the effects are especially pronounced for households that experienced a … decline in savings. This result contradicts a prediction from the life-cycle permanent income model with borrowing constraints …'s prospect theory, according to which the combination of income uncertainty and loss aversion can lead households to react more …