Financial decision making requires a sound handling of chance events. However, various studies have suggested that people are prone to illusion of control, i.e., the belief that prospects of a chancy event are better if they are involved in the randomisation process. This paper reports results...

This thesis analyzes two different aspects Social Policy in Germany is concerned with. This relates to (1) the aging of society and (2) the shifting household composition from ‘classic’ families to single-parent households. In Chapter 2 and Chapter 3 we analyze the evolution of the financial...