This paper investigates how loss-aversion affects individuals' decisions on savings and insurance purchase …. Specifically, this paper empirically tests if prospect theory's loss aversion decreases insurance demand and increases savings …-life insurance, which serves as a partial savings instrument. These individuals also hold a higher level of wealth than others …

Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be … correct for some parts of household savings, we question the correctness of the unitary model with respect to non …-mandatory retirement savings. Therefore we analyze the intra-household allocation of retirement savings between partners in Germany taking …

to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure …

-based savings behavior of households. The results indicate that three out of five households do not have any emergency funds set … financial literacy and risk tolerance are associated with goals-based savings behavior, such as saving for emergencies, and …

decades. Voluntary savings for retirement will therefore gain more and more relevance in order to maintain one’s standard of … living during retirement. This article examines the savings behavior for retirement on an individual level in Germany. As a …

Traditionally, households have been seen as acting as a single unit when it comes to savings. Although this might be … correct for some parts of household savings, we question the correctness of the unitary model with respect to non …-mandatory retirement savings. To answer this question we analyze the intra-household allocation of retirement savings between partners in …