Testing the Behavioral Life-Cycle Model for Saving and Consumption

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Huang, Yanjun (2007) Testing the Behavioral Life-Cycle Model for Saving and Consumption. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Abstract

The conflict between behavioral finance and standard finance came to the attention of economists since they recognized the importance of psychology in finance. This paper focuses on the empirical study of the behavioral life-cycle model that is a derivative model based on three concepts of behavioral finance, including self-control, mental accounting, and frame dependence. Through testing the differential marginal propensity to consume (MPC) hypothesis and the magnitude of the offset between pension saving and discretionary saving, the results show that the empirical evidence is more consistent with behavioral life-cycle theory.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 06 Mar 2008
Last Modified: 10 Apr 2018 13:57
URI: https://eprints.nottingham.ac.uk/id/eprint/21079

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