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Loss Aversion and Saving Behavior: Evidence from the 2007 U.S. Survey of Consumer Finances

  • Patti Fisher

    ()

  • Catherine Montalto

    ()

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    File URL: http://hdl.handle.net/10.1007/s10834-010-9196-1
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    Article provided by Springer in its journal Journal of Family and Economic Issues.

    Volume (Year): 32 (2011)
    Issue (Month): 1 (March)
    Pages: 4-14

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    Handle: RePEc:kap:jfamec:v:32:y:2011:i:1:p:4-14
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=104904

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    1. Sandmo, Agnar, 1970. "The Effect of Uncertainty on Saving Decisions," Review of Economic Studies, Wiley Blackwell, vol. 37(3), pages 353-60, July.
    2. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    3. Christopher D. Carroll & Andrew A. Samwick, 1998. "How Important Is Precautionary Saving?," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 410-419, August.
    4. Zeldes, Stephen P, 1989. "Consumption and Liquidity Constraints: An Empirical Investigation," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 305-46, April.
    5. George Hondroyiannis, 2009. "Fertility Determinants and Economic Uncertainty:An Assessment Using European Panel Data," Working Papers 96, Bank of Greece.
    6. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1797-1855, December.
    7. OR Attanasio & J Banks, 2001. "The assessment: household saving - issues in theory and policy," Oxford Review of Economic Policy, Oxford University Press, vol. 17(1), pages 1-19, Spring.
    8. Smith, J.P., 1996. "Racial and Ethnic Differences in Wealth in the Health and Retirement Study," Papers 96-12, RAND - Reprint Series.
    9. Angus Deaton, 1989. "Saving and Liquidity Constraints," NBER Working Papers 3196, National Bureau of Economic Research, Inc.
    10. Banks, James & Blundell, Richard & Tanner, Sarah, 1998. "Is There a Retirement-Savings Puzzle?," American Economic Review, American Economic Association, vol. 88(4), pages 769-88, September.
    11. Chang-Keun Han & Michael Sherraden, 2009. "Attitudes and Saving in Individual Development Accounts: Latent Class Analysis," Journal of Family and Economic Issues, Springer, vol. 30(3), pages 226-236, September.
    12. B. Douglas Bernheim & Jonathan Skinner & Steven Weinberg, 1997. "What Accounts for the Variation in Retirement Wealth Among U.S. Households?," Working Papers 97035, Stanford University, Department of Economics.
    13. Nicole Forry, 2009. "The Impact of Child Care Subsidies on Low-Income Single Parents: An Examination of Child Care Expenditures and Family Finances," Journal of Family and Economic Issues, Springer, vol. 30(1), pages 43-54, March.
    14. Christopher D Carroll, 2001. "Precautionary Saving and the Marginal Propensity To Consume Out of Permanent Income," Economics Working Paper Archive 445, The Johns Hopkins University,Department of Economics, revised Aug 2009.
    15. Christopher D. Carroll, 1992. "How does future income affect current consumption?," Working Paper Series / Economic Activity Section 126, Board of Governors of the Federal Reserve System (U.S.).
    16. Palumbo, Michael G, 1999. "Uncertain Medical Expenses and Precautionary Saving Near the End of the Life Cycle," Review of Economic Studies, Wiley Blackwell, vol. 66(2), pages 395-421, April.
    17. Davies, James B, 1981. "Uncertain Lifetime, Consumption, and Dissaving in Retirement," Journal of Political Economy, University of Chicago Press, vol. 89(3), pages 561-77, June.
    18. Fisher, Patti J. & Montalto, Catherine P., 2010. "Effect of saving motives and horizon on saving behaviors," Journal of Economic Psychology, Elsevier, vol. 31(1), pages 92-105, February.
    19. Cynthia Sanders & Shirley Porterfield, 2010. "The Ownership Society and Women: Exploring Female Householders’ Ability to Accumulate Assets," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 90-106, March.
    20. Aydogan Ulker, 2008. "Wealth Holdings and Portfolio Allocation of the Elderly: The Role of Marital History," Economics Series 2008_16, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
    21. Daphne Hernandez & Kathleen Ziol-Guest, 2009. "Income Volatility and Family Structure Patterns: Association with Stability and Change in Food Stamp Program Participation," Journal of Family and Economic Issues, Springer, vol. 30(4), pages 357-371, December.
    22. Schmidt, Ulrich & Traub, Stefan, 2002. " An Experimental Test of Loss Aversion," Journal of Risk and Uncertainty, Springer, vol. 25(3), pages 233-49, November.
    23. Haejeong Kim & Jinhee Kim, 2010. "Information Search for Retirement Plans Among Financially Distressed Consumers," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 51-62, March.
    24. 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.
    25. Milt Marquis, 2002. "What's behind the low U.S. personal saving rate?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar29.
    26. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages S251-78, October.
    27. Lusardi, Annamaria, 1998. "On the Importance of the Precautionary Saving Motive," American Economic Review, American Economic Association, vol. 88(2), pages 449-53, May.
    28. Shefrin, Hersh M & Thaler, Richard H, 1988. "The Behavioral Life-Cycle Hypothesis," Economic Inquiry, Western Economic Association International, vol. 26(4), pages 609-43, October.
    29. Alessandra Guariglia, 2001. "Saving behaviour and earnings uncertainty: Evidence from the British Household Panel Survey," Journal of Population Economics, Springer, vol. 14(4), pages 619-634.
    30. Avery, Robert B & Kennickell, Arthur B, 1991. "Household Saving in the U.S," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(4), pages 409-32, December.
    31. Karen E. Dynan & Jonathan Skinner & Stephen P. Zeldes, 2000. "Do the rich save more?," Finance and Economics Discussion Series 2000-52, Board of Governors of the Federal Reserve System (U.S.).
    32. Miles S. Kimball, 1990. "Precautionary Saving and the Marginal Propensity to Consume," NBER Working Papers 3403, National Bureau of Economic Research, Inc.
    33. Sondra Beverly & Amanda Moore & Mark Schreiner, 2001. "A Framework of Asset-Accumulation Stages and Strategies," Development and Comp Systems 0109004, EconWPA.
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