intertemporal substitution. To study this, we set up a two-period model with wage uncertainty. This extends the standard savings … and time allocation. Our four main findings are: (i) subjects exercise more effort under certainty than under risk; (ii …) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …

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

and time allocation. Our four main findings are: (i) subjects exercise more effort under certainty than under risk; (ii …) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …

messages and financial decisions among low-income youth in Colombia. Youth accountholders are randomly assigned to one of four … experimental conditions: i) twelve monthly financial education messages, ii) twelve monthly savings reminders, iii) twenty … account balances. At least two thirds of account balance increases in reminder groups are net savings increases. Savings …

saving plans when they face different income profiles. We find that for every income profile we consider, subjects on average … and any sudden drop in income reduces their lifetime utility. We conduct a specification search for a model to explain our …

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

We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece … rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the … tradeoff between risk and incentives. Subjects in our experiments choose their compensation for performing a real-effort task …