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Optimal saving rules for loss-averse agents under uncertainty

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  • Siegmann, Arjen

Abstract

Most empirical studies assume only monotonic preferences for households. Behavioral research however provides

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 77 (2002)
Issue (Month): 1 (September)
Pages: 27-34

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Handle: RePEc:eee:ecolet:v:77:y:2002:i:1:p:27-34

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Web page: http://www.elsevier.com/locate/ecolet

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References

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  1. Martin Browning & Annamaria Lusardi, 1995. "Household Saving: Micro Theories and Micro Facts," Department of Economics Working Papers 1995-02, McMaster University.
  2. Caballero, Ricardo J., 1990. "Consumption puzzles and precautionary savings," Journal of Monetary Economics, Elsevier, vol. 25(1), pages 113-136, January.
  3. Bowman, David & Minehart, Deborah & Rabin, Matthew, 1999. "Loss aversion in a consumption-savings model," Journal of Economic Behavior & Organization, Elsevier, vol. 38(2), pages 155-178, February.
  4. Christopher D. Carroll & Andrew A. Samwick, 1995. "How Important is Precautionary Saving?," NBER Working Papers 5194, National Bureau of Economic Research, Inc.
  5. Aizenman, Joshua, 1998. "Buffer stocks and precautionary savings with loss aversion," Journal of International Money and Finance, Elsevier, vol. 17(6), pages 931-947, December.
  6. Michel Normandin, 1992. "Precautionary Saving: An Explanation for Excess Sensitivity of Consumption," Cahiers de recherche CREFE / CREFE Working Papers 3, CREFE, Université du Québec à Montréal.
  7. Benartzi, Shlomo & Thaler, Richard H, 1995. "Myopic Loss Aversion and the Equity Premium Puzzle," The Quarterly Journal of Economics, MIT Press, vol. 110(1), pages 73-92, February.
  8. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
  9. Michel Normandin, 1997. "Precautionary saving and the Deaton paradox," Applied Economics Letters, Taylor and Francis Journals, vol. 4(3), pages 187-190.
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Cited by:
  1. Horst Zank, 2007. "On the Paradigm of Loss Aversion," The School of Economics Discussion Paper Series 0710, Economics, The University of Manchester.
  2. Horst Zank, 2010. "On probabilities and loss aversion," Theory and Decision, Springer, vol. 68(3), pages 243-261, March.

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