. This paper examines the determination of precautionary saving when people have access to intra-family risk sharing. I show …, risk sharing between risk averse spouses. The more altruistic the couple is, the closer is the solution to the efficient … one. Also welfare and savings effects from social insurance turn out to be sensitive to assumptions about family structure …

of two tiers of second pillar savings – mandated and non-mandated (voluntary). Furthermore, the government can set two …, as well as obviate some of the investment risk and annuity price risk that retirees face.We formulate a quantitative …

and time allocation. Our four main findings are: (i) subjects exercise more effort under certainty than under risk; (ii …) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …

intertemporal substitution. To study this, we set up a two-period model with wage uncertainty. This extends the standard savings … and time allocation. Our four main findings are: (i) subjects exercise more effort under certainty than under risk; (ii …) savings are strictly positive for at least 85 percent of subjects (iii) a majority of subjects uses time allocation to smooth …

. Specifically, this paper empirically tests if prospect theory's loss aversion decreases insurance demand and increases savings …This paper investigates how loss-aversion affects individuals' decisions on savings and insurance purchase … demand. Prospect theory predicts that boundedly rational consumers may view pure protection insurance, such as term …

This study considers the efficacy of a tax incentivised savings scheme in context of decision making rigidities …. Analysis is based on a classical life-cycle model of savings and investment decisions, augmented with a salience cost over … participation in Individual Savings Accounts (ISAs) currently run in the UK. Calibration results indicate that salience costs help …

just a few years, these choices result in lost savings equal to 4% of the median net worth of families at retirement. The …

We show how optimal saving in a two-period model is affected when prudence and risk aversion of the underlying utility … function change. Increasing prudence alone will induce higher savings only if, for certain combinations of the interest rate … and the pure time discount rate, there is distributional neutrality between the two periods. Otherwise, changes of risk …

divided into two sets: those who save by themselves to pay for the cost of their migration, and those who pool their savings … with the savings of another would-be migrant to pay for the cost. Saving jointly brings forward the timing of migration …