financial planners can use to help clients overcome behavioral hurdles.• Risk assessment questions that measure loss aversion … for certainty has been observed in advanced age and older defined contribution investors exhibit equity-varying risk … aversion, so client risk preferences should be reassessed later in life.• Clients face declining cognitive abilities over time …

may destabilize insurance arrangements among the larger group. We therefore consider self-enforcing risk … must itself employ some self-enforcing risk-sharing agreement. We observe that the stability of subgroups is inimical to …) bounded size, a result in sharp contrast to the individual-deviation problem, and that the degree of risk-sharing in a …

for the young and the self-employed, and is correlated positively with income risk. We insert these subjective … saving motive by eliciting subjective expectations on future consumption. We find that expected consumption risk is higher … estimate the degree of prudence by associating expected consumption risk with expected consumption growth. Robust OLS and IV …

for the young and the self-employed, and is correlated positively with income risk. We insert these subjective … saving motive by eliciting subjective expectations on future consumption. We find that expected consumption risk is higher … estimate the degree of prudence by associating expected consumption risk with expected consumption growth. Robust OLS and IV …

for the young and the self-employed, and is correlated positively with income risk. We insert these subjective … saving motive by eliciting subjective expectations on future consumption. We find that expected consumption risk is higher … estimate the degree of prudence by associating expected consumption risk with expected consumption growth. Robust OLS and IV …

uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to … capital income risk, we solve for the optimal consumption-saving choices and show that the expected welfare is increasing with … households would pay more attention to capital income risk if they have (i) lower initial wealth endowment, (ii) lower marginal …

This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they … increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as … savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple …