Based on a cognitive notion of neo-additive capacities reflecting likelihood insensitivity with respect to survival chances, we construct a Choquet Bayesian learning model over the life-cycle that generates a motivational ...

This paper investigates extensions of the method of endogenous gridpoints (ENDGM) introduced by Carroll (2006) to higher dimensions with more than one continuous endogenous state variable. We compare three different ...

We solve a rich life-cycle model of household decisions involving consumption of perishable goods and housing services, habit formation for housing consumption, stochastic labor income, stochastic house prices, home renting ...

"On average young people ""undersave"" whereas old people ""oversave"" with respect to the rational expectations model of life-cycle consumption and savings. According to numerous studies on subjective survival beliefs, ...

A number of recent studies have concluded that consumer spending patterns over the month are closely linked to the timing of income receipt. This correlation is interpreted as evidence of hyperbolic discounting. I re-examine ...

This paper studies a household’s optimal demand for a reverse mortgage. These contracts allow homeowners to tap their home equity to finance consumption needs. In stylized frameworks, we show that the decision to enter a ...

The DNB Household Survey (DHS) offers a unique collection of data that allows the study of both psychological and economic aspects of financial behavior; a panel study among 2000 households that has been active since 1993. ...

The Consumer Expenditure Surveys (CE or CEX) program provides data on expenditures, income, and demographic characteristics of consumers in the United States. The CE program provides these data in tables, LABSTAT database, ...

The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives. Our goal is to shape policies that foster prosperity, equality, ...

The German Socio-Economic Panel (GSOEP) is an interdisciplinary longitudinal study of private households for the representative analysis and interpretation of social and economic behavior in the Federal Republic of Germany. ...