We explore mortality beliefs by eliciting individual-level belief distributions for participants' remaining lifespan. Across two independent samples, from Germany and the USA, we find that individuals - while accurately forecasting their life expectancy - substantially overestimate the...

This paper demonstrates that well-established biases in decision making under uncertainty can generate poverty traps. A theoretical framework is developed to demonstrate that: i) probability weighting and ambiguity attitude can lead individuals to erroneously undervalue profitable investments,...