We use experiments to assess the impact of different savings mechanisms in pension system design. The savings mechanisms are chosen with an eye to common features of European pension systems. We introduce a novel utility function in our experiments incorporating habit formation and loss...

We use experiments to assess the impact of different savings mechanisms in pension system design. The savings mechanisms are chosen with an eye to common features of real-world pension systems. We introduce a novel utility function in our experiments incorporating habit formation and loss...

The effects of a Tobin tax on foreign exchange markets have long been disputed. We present an experiment with currency trading on two markets, where either none, one, or both markets are taxed. Our results confirm the hitherto undisputed issues: a tax reduces trading volume, shifts market share...

The effects of a Tobin tax on foreign exchange markets have long been disputed. We present an experiment with currency trading on two markets, where either none, one, or both markets are taxed. Our results confirm the hitherto undisputed issues: a tax reduces trading volume, shifts market share...