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How do aspirations influence investment decisions for people living in poverty? Does this change as peoples economic conditions improve? To answer these questions, we design a workshop teaching techniques to raise aspirations and plan to achieve them. We cross-randomise this with large...
Persistent link: https://www.econbiz.de/10014372492
Poverty involves both low income levels and high income uncertainty. Do both these dimensions of being poor capture … by farmers in Brazil: random payday variation affecting income levels, and rainfall shocks that affect income uncertainty …. We find that it is income uncertainty that systematically has adverse cognitive effects; low income levels affect only …
Persistent link: https://www.econbiz.de/10012165702
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Financial service professionals and personal finance educators can help more consumers plan better for their retirement …
Persistent link: https://www.econbiz.de/10013124365
We examine whether financial capability has impacts on psychological health independent of income and financial resources more generally using a nationally representative survey. British Household Panel Survey data are used to construct a measure of financial capability, which we relate to...
Persistent link: https://www.econbiz.de/10009268594
financial choices? I use the Health and Retirement Study to directly identify the CFO of the family and consider the effects of …
Persistent link: https://www.econbiz.de/10012936256
Building on an overview of various kinds of dual systems/process theories in psychology and economics, the paper … which concurs with recent approaches to parallelism in action preparation and selection in psychology …
Persistent link: https://www.econbiz.de/10014118492
Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...
Persistent link: https://www.econbiz.de/10012917090
rationality with the cognitivist psychology underpinning mainstream behavioral economics. Furthermore we show that the … reintroduction of psychology into economics has not coincided with a serious consideration of which psychological approach is best …
Persistent link: https://www.econbiz.de/10012920677
This research investigated the relationship between the magnitude or scope of a stimulus and its subjective value by contrasting 2 psychological processes that may be used to construct preferences: valuation by feeling and valuation by calculation. The results show that when people rely on...
Persistent link: https://www.econbiz.de/10014026784