The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader...

A hybrid of a model of economic equilibrium in two markets and a social game is formed. The link between the two is established through a social norm which conditions correct social behavior on economic variables and therefore distorts the economic equilibrium allocation. The initial endowment...

Mit der Begründung drohender Altersarmut wird seit einiger Zeit bereits die Eingliederung der bislang nicht gesetzlich versicherten Selbstständigen in die Gesetzliche Rentenversicherung diskutiert. Allerdings ist empirisch sehr wenig über die Altersvorsorge und die Vermögenssituation der...

Despite the vast literature on the energy-efficiency gap, there is a general dearth of investment models which incorporate the consumer's temporal freedom in the investment decision. Focusing on the building sector, we formulate optimal investment in energy efficiency as a problem of wealth...