The poor can and do save, but often use formal or informal instruments that have high risk,
high cost, and limited functionality. This could lead to undersaving compared to a world …

Experiments with family groups are rare, but since many decisions are taken at the
household level or occur within the household it is an important area to investigate. This …

Most informal finance comes from family and friends. Existing informal finance theories
cannot match two characteristics of family finance: family investors may accept below-market …

We study collective decisions by time-discounting individuals choosing a common
consumption stream. We show that with any heterogeneity in time preferences, every Pareto …

We study collective decisions by time-discounting individuals choosing a common
consumption stream. We show that with any heterogeneity in time preferences, utilitarian …

We implemented a randomized field experiment that tested ways to stimulate migrants'
savings in their origin country. We find that migrants value opportunities to exert greater …

Poverty is often characterized not only by low and unstable income, but also by heavy debt
burdens. We find that reducing barriers to saving through access to free savings accounts …

The intersection of research and policy on consumer credit often has a Goldilocks feel.
Some researchers and policy makers posit that consumer credit markets produce too much …

This study examines household portfolio choice through the retirement transition. I show that
couples significantly decrease their stock allocations after retirement, whereas singles' …

This paper proves that the standard quasi-geometric discounting model used in dynamic
consumer theory and political economics does not possess Markov perfect equilibria (MPE) …