The paper reports the results of evaluating the hourly impact of a behavioral intervention tested in a randomized controlled trial. Under the program, a randomly selected group of households in Alberta was provided visual information on their home heat loss. I find that the households conserve...

We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) and relax the assumptions on consumption sets and preferences. We show that initial holdings are irrelevant for lexicographic welfare maximization. Equilibria other than such maximizers can be...

An empirical analysis of a sample of publicly-traded thrifts demonstrates that there is little evidence that the supervisory goodwill “asset” conferred on thrifts by regulators in the late-1970s and 19080s possessed meaningful economic value in 1989 when, pursuant to the Financial...

The total face amount of terminated life insurance in the U.S. amounts to over two trillion dollars per annum. Little known is that, instead of allowing insurance carriers to pocket the premiums paid until termination and avoid the death claim, many policyholders may realize their policies'...

This paper examines the extent to which savings products offered by cooperative societies in some parts of Nigeria meet the financial needs of the rural dwellers. The study used the data from interviews and focus group discussions from randomly selected members of cooperative societies in six...

Recent evidence shows that the poor desperately need access to savings products. But despite this general consensus, microfinance institutions (MFIs) offering savings products are still under-studied. Using random-effect probit estimation on a dataset of 722 MFIs active over the 2005-2010...

In this paper, we study two classical saving-insurance problems for the intertemporal version developed by Hayashi and Miao (2011) of the smooth ambiguity model of Klibanoff et al. (2005). These models put risk, ambiguity and time preferences together in a Kreps-Porteus aggregator, and...

This paper considers a one-sector economic growth model with several infinitely - lived heterogeneous households, who differ both in the discount factors as well as preferences over consumption. Unlike the extreme form of borrowing constraint observed in the classical Ramsey model, recently...

This paper examines the extent to which savings products offered by cooperative societies in some parts of Nigeria meet the financial needs of the rural dwellers. The study used the data from interviews and focus group discussions from randomly selected members of cooperative societies in six...