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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...
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affects the saving behavior of the subjects. Savings are higher when they are incentivized with matching contributions than … with tax rebates. When faced with stochastic survival risk, subjects make partial adjustments to spending paths. We also …
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whether subjects treat debt differently than savings. Two treatments create environments where either saving or borrowing is …
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