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On saving and investing: An experimental study of intertemporal decision making in a complex stochastic environment

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  • Anderhub, Vital
  • Güth, Werner
  • Knust, Florian

Abstract

The experimental situation presents a complex stochastic intertemporal allocation problem. First, two initial chance moves select one of three possible termination probabilities which then determines whether life lasts 3,4,5, or 6 periods. Compared to Anderhub et al. (1997) participants are allowed to invest into a risky, but profitable asset. We investigate whether the willingness to invest can help to explain saving behavior, i.e. experimentally observed intertemporal decision making.

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  • Anderhub, Vital & Güth, Werner & Knust, Florian, 2000. "On saving and investing: An experimental study of intertemporal decision making in a complex stochastic environment," SFB 373 Discussion Papers 2000,2, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    • Handle: RePEc:zbw:sfb373:20002
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    Cited by:

    1. Vital Anderhub & Werner Gäuth & Wieland Mäuller & Martin Strobel, 2000. "An Experimental Analysis of Intertemporal Allocation Behavior," Experimental Economics, Springer;Economic Science Association, vol. 3(2), pages 137-152, October.

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