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Reinforcement Learning and Savings Behavior

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Listed:
  • James Choi
  • David Laibson
  • Brigitte Madrian
  • Andrew Metrick

Abstract

We show that individual investors over-extrapolate

Suggested Citation

  • James Choi & David Laibson & Brigitte Madrian & Andrew Metrick, 2007. "Reinforcement Learning and Savings Behavior," Yale School of Management Working Papers amz2657, Yale School of Management, revised 01 Mar 2009.
    • Handle: RePEc:ysm:wpaper:amz2657
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    File URL: https://repec.som.yale.edu/icfpub/publications/2657.pdf
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    5. James J. Choi & David Laibson & Brigitte C. Madrian, 2011. "$100 Bills on the Sidewalk: Suboptimal Investment in 401(k) Plans," The Review of Economics and Statistics, MIT Press, vol. 93(3), pages 748-763, August.
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    19. James J. Choi & David Laibson & Brigitte C. Madrian, 2010. "Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds," Review of Financial Studies, Society for Financial Studies, vol. 23(4), pages 1405-1432, April.
    20. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
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