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Please use this identifier to cite or link to this item: http://hdl.handle.net/10481/31522

Title: Experimental tests on consumption, savings and pensions
Authors: Fatás, Enrique
Lacomba, Juan Antonio
Lagos, Francisco Miguel
Moro-Egido, Ana
Issue Date: 2008
Abstract: As part of the current debate on the reform of pension systems, this article examines the potential effects on consumption behaviour of implementing a lump-sum payment in a public pension system. This work explores an experimental investigation into retirement consumption behaviour with two central features: first, there exists a decreasing probability of surviving; second, there are two sequences of income, one when individual works and another when she is retired. The results show how subjects seem to plan their consumption and saving choices conditionated by both the long horizon with no incomes and the lump-sum payment. This yields, in the majority of periods, a surprising over-saving behaviour.
Sponsorship: Financial support from the Spanish Ministry of Education and Science (grant code SEJ2006-11067/ECON) and from Fundación Centro de Estudios Andaluces.
Publisher: Universidad de Granada. Departamento de Teoría e Historia Económica
Series/Report no.: The Papers;08/14
Keywords: Experimental test
Lump-sum payment
URI: http://hdl.handle.net/10481/31522
Rights : Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License
Citation: Fatás, E.; Lacomba, J.A.; Lagos, F.M.; Moro-Egido, A. Experimental tests on consumption, savings and pensions. Universidad de Granada. Departamento de Teoría e Historia Económica (2008). (The Papers; 08/14). [http://hdl.handle.net/10481/31522]
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