This dissertation presents four independent papers that advance experimental methods and test theories on saving using experimentally elicited characteristics. The first two papers test two behavioral theories on precautionary saving based on the characteristics loss aversion and prudence by...

This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...

This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...

This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...

This paper empirically examines the behavioral precautionary saving hypothesis that uncertainty about future income triggers an increase in saving because of loss aversion. Guided by the theoretical model of Koszegi and Rabin (2009), we first extend their theoretical analysis to also consider...

The intense debate on the effectiveness of the war on drugs contrasts with the lack of empirical evidence on its impacts. To evaluate the effectiveness of control-supply policies, we use micro data from an original survey with farmers living in a coca growing area in Colombia. We find that while...

We present a new approach to treatment assignment in (field) experiments for the case of one or multiple treatment groups. This approach - which we call minimizing MSE approach - uses sample characteristics to obtain balanced treatment groups. Compared to other methods, the min MSE procedure is...

Higher order risk preferences are well-known for their relation with precautionary saving or portfolio allocation. Theoretically, they are also connected with other important behavior, such as health-related or eco-friendly behavior, but these relations have never been investigated with field...

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment with 658 adolescents. In line with theoretical predictions, we find that higher order risk preferences - particularly prudence - are strongly related to adolescents' field...

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment with 658 adolescents. In line with theoretical predictions, we find that higher order risk preferences particularly prudence are strongly related to adolescents' field behavior,...