Demographic changes, tight public budgets, and reduced generosity of occupational pension plans shift the responsibility for an adequate retirement provision towards the individual. Applying the theoretical perspectives of Behavioural Finance and New Institutionalism to the domain of retirement...

This paper contributes the on-going debate on income inequality in advanced economies with a proposal aimed at reducing costly investment mistakes that are prevalent among middle-class households. The paper starts by describing how households should invest, compares it with what we know about...

Savings and investments by individuals are important both for personal financial well-being and for economic growth. Many governments try to encourage their citizens to save more, or to save more appropriately, by preferring formal institutions to informal saving and by promoting more...

Prize-linked savings (PLS) accounts — which allocate interest using lottery payments rather than fixed interest — attempt to encourage savings by appealing to households' gambling preferences. I introduce new data on casino cash withdrawals to measure gambling, and examine how individual...

Several Asian countries have established savings and loan programs called housing provident funds (HPFs), which comprise a voluntary or mandatory savings account and eligibility for discounted mortgage loans. This study evaluates the impact of a mandatory HPF in China on homeownership using the...

We measure financial literacy among LinkedIn members, complementing standard questions with additional questions that allow us to gauge self-perceptions of financial literacy. Average financial literacy is surprisingly low given the demographics of our sample: fewer than two-thirds of CFOs,...

Buying a retirement saving plan in Israel involves meeting with an agent whose interests may differ from those of his or her customers. The aim of the present study was to explore the effect of the advice given by the agent, along with that of two further factors: a fair disclosure statement...

Using a financial literacy survey of Swedish pension investors matched to actual retirement savings decisions, we argue that respondents can be broken into three groups: those who are financially literate, those who mistakenly believe they are financially literate, and those who know that they...

When “Roam Like At Home” (RLAH) rules were introduced in 2017, many observers thought that this was the end of the roaming problem in Europe. While retail roaming surcharges were abolished across the EEA, the underlying problem of high prices at the wholesale level continued and the existing...