Achieving value for money in public expenditure is a key issue, whatever the state of the economic cycle. Its importance is even more marked in the present situation. In order to attain this, we must have a clear idea of the objectives of particular expenditure programmes, and of the extent to...

Many households lack savings to cushion them from financial shocks. While behavioural economics offers insights into why some households fail to save, successful behavioural interventions to increase precautionary saving are elusive. We present two interventions, which were tested in a...

We present a theory of exchange that provides an alternative explanation for the endowment effect. Unlike standard neoclassical theories and Prospect Theory, our approach is not based on preference structure, but on adaptive responses to the problem of exchange when value is uncertain. We...

Following the Euro changeover in January 2002, consumers across the Euro Area perceived a sharp rise in inflation, in contrast to official figures. Several theories have been advanced to explain this apparent economic illusion, but they struggle to account for its striking scale and persistence....

How people perceive and forecast inflation has the potential to impact on a range of economic outcomes. We reveal large, systematic overestimation of inflation by Irish consumers, which varies by social group. In contrast to previous work in this area, our models suggest the upward bias and the...

Achieving value for money in public expenditure is a key issue, whatever the state of the economic cycle. Its importance is even more marked in the present situation. In order to attain this, we must have a clear idea of the objectives of particular expenditure programmes, and of the extent to...