fully attend to consumption in all periods but fail to attend to some future lumpy expenditure opportunities. This asymmetry … expenditure. We find support for these predictions in three field experiments that randomly assign reminders to new savings … account holders. -- Intertemporal consumer choice ; savings ; attention …

Implicit contracts can mitigate moral hazard in labor, credit and product markets. The enforcement mechanism underlying …-generating resources provided by the principal. For example, in credit markets with weak creditor protection borrowers may be able to … contracting: it leads to a more frequent breakdown of credit relationships as well as to smaller loans. …