In this paper, we argue that shadow activities and different levels of marketization of household production systematically distort international comparisons of aggregate gross household saving rates (HSRs): Higher shares of hidden income increase observed HSRs. Panel data for 18 (24)...

Time preference, emotional "shock sensitivity" and "resilience" are shaping an emotional probability weighting function capable to "replicate" gender specific weighting functions. By maximizing emotional expected utility the proposer (P) and the responder (R) in an ultimatum game are choosing...

Various anomalies in intertemporal choice are explained within a common framework of time-dependent uncertainty and state-dependent expected utility: By considering temporary emotions in addition to the permanent wealth effects associated with the realization of delayed gains and losses, it can...