We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly depending on what criterion is used to rank them. For...

Energy saving is a critical factor in addressing the global energy crisis. This study analyzes the role of 11 values (ideology, post-materialism, environmentalism, global citizenship, religiosity, science and technology (S&T) optimism, hedonic value, altruistic value, egoistic value,...

This paper explores sources of complexity in dynamic optimization, examining how individuals navigate variation in incomes, prices, and returns in ten-period consumption-saving decisions. Our findings reveal that dynamic optimization poses significant challenges, resulting in suboptimal choices...