The relationship between trust and risk is a topic of enduring interest. Although there are substantial differences between the ideas the terms express, many researchers from different disciplines have pointed out that these two concepts become very closely related in personal exchange contexts....

The purpose of this document is to describe methodological details of the German SAVE survey and to provide users of SAVE with all necessary information for working with the publicly available SAVE dataset.

The understanding of human behavior in sequential decision tasks is im- portant for economics and socio-psychological sciences. In search tasks, for example when individuals search for the best price of a product, they are confronted in sequential steps with di®erent situations and they have to...

The curvature of utility functions varies between people. We suggest that there is a relationship between individual differences in preferred decision mode (intuition vs. deliberation) and the curvature of the individual utility function. If a person habitually prefers a deliberative mode, the...

We use a laboratory experiment to investigate the effect that assuming rational expectations has on structural inference in a dynamic discrete choice decision problem. Our experimental design induces preferences up to each subject’s subjective rates of time preference, leaving unrestricted...

We present a quantitative analysis of international capital flows induced by differ-ential population aging and pension reform. It is well known that within each country, demo-graphic change alters the time path of aggregate savings. This process may be amplified if pension reform shifts old-age...

Throughout the world, population aging is a major challenge that will continue well into the 21 st century. While the patterns of the demographic transition are similar in most countries, timing differs substantially, in particular between industrialized and less developed countries. To the...

Population aging is just beginning to hit the industrialized countries in full force, and it will have a tremendous impact on capital markets. Capital market effects of population aging are particularly strong in continental European economies such as Germany, with their large pay-as-you- go...

We present a quantitative analysis of international capital flows induced by differ-ential population aging and pension reform. It is well known that within each country, demo-graphic change alters the time path of aggregate savings. This process may be amplified if pension reform shifts old-age...