We report on a series of economic decision-making experiments exploring how individuals make lifecycle consumption and saving plans when they face different income profiles. We find that for every income profile we consider, subjects on average over-consume in the early periods of life and...

Perceptions of social mobility in society are one of the most important determinants of individuals' preferences for redistribution and tolerance for economic inequalities. What shapes these perceptions is however so far little understood. In this paper, I propose and empirically test a...

Perceptions of social mobility in society are one of the most important determinants of individuals' preferences for redistribution and tolerance for economic inequalities. What shapes these perceptions is however so far little understood. In this paper, I propose and empirically test a...

Arguably, for many citizens the perceived expected disutility from sanctions is smaller than the monetary gain from tax evasion. Nevertheless most people pay their taxes most of the time. In a lab experiment, we show that the willingness to pay taxes even absent enforcement is indeed pronounced....

Using cross-country survey data and a survey experiment, I examine the effects of experienced social mobility on support for redistribution. In line with the self-serving bias, those with negative mobility experiences 'blame the system' and extrapolate from their experience onto society, which...

We show that perceptions of relative rank in the wealth distribution shape individuals' willingness to take risks. Using a representative large-scale survey, we manipulate perceptions of relative standing by randomly varying response categories when asking respondents about their wealth level....

Behavioral and experimental literature on financial instability focuses on either subjective price expectations (Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2017) have shown that subjects have problems with both tasks. In this paper, I...

We study a model in which individual agents use simple linear first order price forecasting rules, adapting them to the complex evolving market environment with a smart Genetic Algorithm optimization procedure. The novelties are: (1) a parsimonious experimental foundation of individual...

Predicting the interests of a user in information is an important process in personalized information systems. In this paper, we present a way to create prediction engines that allow prediction techniques to be easily combined into prediction strategies. Prediction strategies choose one or a...

This paper explores the power of news sentiment to predict financial returns, in particular the returns of a set of European stocks. Building on past decision support work going back to the Delphi method this paper describes a text analysis expert weighting algorithm that aggregates the...