We investigate the impact of financial windfalls on household portfolio choices and risk exposure. Exploiting the randomized assignment of lottery prizes in three Swedish lotteries, we find a windfall gain of $100K leads to a 5-percentage-point decrease in the risky share of household...

We estimate the impact of household liquidity provision on macroeconomic stabilization using the 2020 CARES Act mortgage forbearance program. We leverage intermediation frictions in forbearance induced by mortgage servicers to identify the effect of reducing short-term payments with little...

Constrained, “hand-to-mouth," households with zero liquid wealth are a foundational building block of modern heterogeneous-agent consumption models. However, we document empirically that many of these seemingly borrowing-constrained households are actually unconstrained in that they actively...

Purpose: This study aims to provide a conceptual framework to investigate the effects of consumer attitudes toward brands and attitudes toward a series of fashion oriented print advertisements with and without homosexual themes, on consumer willingness to buy from brands. The influence of...

Purpose: This study aims to empirically examine young tourists’ perceptions of object-based authenticity, existential authenticity and perceived value perceptions on satisfaction. Data were collected from young heritage tourists at the Little India heritage precinct in Singapore....

Purpose: The consumption of wine is influenced by seemingly contradictory antecedents such as perceived authenticity and novelty. This paper aims to explore the influence novelty and authenticity have on wine consumption, in the context of the moderating variables of regionality (i.e. single...