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Saving Behavior under the Influence of Income Risk: An Experimental Study

  • Tomoki Kitamura


    (NLI-Research Institute and Graduate School of International Management, Aoyama Gakuin University)

  • Yasuhiro Yonezawa


    (Graduate School of Finance, Accounting and Law, Waseda University)

  • Munenori Nakasato


    (Graduate School of International Management, Aoyama Gakuin University)

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    Individual subjects are experimentally tested for precautionary saving. We use a simplified experimental framework and decision supporting tool to show that subject's consumption is consistent with precautionary saving. We find that subjects overact in changing current income. However, those over-reactions cancel each other, and subject's consumption behavior is close to the optimal solutions on average.

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    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 30 (2010)
    Issue (Month): 2 ()
    Pages: 967-974

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    Handle: RePEc:ebl:ecbull:eb-10-00153
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    1. Lusardi, Annamaria, 1998. "On the Importance of the Precautionary Saving Motive," American Economic Review, American Economic Association, vol. 88(2), pages 449-53, May.
    2. T. Parker Ballinger & Michael G. Palumbo & Nathaniel T. Wilcox, 2003. "Precautionary saving and social learning across generations: an experiment," Economic Journal, Royal Economic Society, vol. 113(490), pages 920-947, October.
    3. Enrica Carbone & John D. Hey, 2004. "The effect of unemployment on consumption: an experimental analysis," Economic Journal, Royal Economic Society, vol. 114(497), pages 660-683, 07.
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