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Interpersonal allocation behavior in a household saving experiment

  • Vital Anderhuba
  • Dennis A. V. Dittrich

    ()

  • Werner Güth

    ()

  • Nadege Marchandd

We investigate the intertemporal allocation behavior of spouses with different deterministic life expectations in an experiment. In each period of their life both partners propose a consumption level of which one is then randomly implemented. In spite of the complex dynamics optimal behavior is rather simple and straightforward in the sense of conditional consumption smoothing. A substantial number of participants does not care whether their partner receives any payoff. This selfish behavior is punished by their partners.On average participants stay on egoistic consuption paths, although in later periods their behavior shifts in the direction of consumption paths leading to equal payoffs.

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Paper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2002-02.

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Length: 26 pages
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Handle: RePEc:esi:discus:2002-02
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  1. Meier, Katja & Kirchler, Erich & Hubert, Angela-Christian, 1999. "Savings and investment decisions within private households: Spouses' dominance in decisions on various forms of investment," Journal of Economic Psychology, Elsevier, vol. 20(5), pages 499-519, October.
  2. Wirl, Franz & Feichtinger, Gustav, 2002. "Intrafamiliar Consumption and Saving under Altruism and Wealth Considerations," Economica, London School of Economics and Political Science, vol. 69(273), pages 93-111, February.
  3. Martin Browning, 1994. "The Saving Behaviour of a Two Person Household," Discussion Papers 96-09, University of Copenhagen. Department of Economics, revised Jan 1996.
  4. Vital Anderhub & Werner Gäuth & Wieland Mäuller & Martin Strobel, 2000. "An Experimental Analysis of Intertemporal Allocation Behavior," Experimental Economics, Springer, vol. 3(2), pages 137-152, October.
  5. Matthew Rabin, 2001. "Risk Aversion and Expected-Utility Theory: A Calibration Theorem," Method and Hist of Econ Thought 0012001, EconWPA.
  6. Phipps, Shelley A & Burton, Peter S, 1998. "What's Mine Is Yours? The Influence of Male and Female Incomes on Patterns of Household Expenditure," Economica, London School of Economics and Political Science, vol. 65(260), pages 599-613, November.
  7. Werner Guth & Radosveta Ivanova-Stenzel & Sigve Tjotta, 2004. "Please, Marry Me! An Experimental Study of Risking a Joint Venture," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 1-21, 02.
  8. Manser, Marilyn & Brown, Murray, 1980. "Marriage and Household Decision-Making: A Bargaining Analysis," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 31-44, February.
  9. Shelly Lundberg & Robert A. Pollak, 1996. "Bargaining and Distribution in Marriage," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 139-158, Fall.
  10. Zhiqi Chen & Frances Woolley, 1999. "A Cournot-Nash Model of Family Decision Making," Carleton Economic Papers 99-13, Carleton University, Department of Economics, revised Oct 2001.
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