This chapter provides an overview of household finance. The first part summarizes key facts
regarding household financial behavior, emphasizing empirical regularities that are …

This paper presents the results of a laboratory experiment designed to investigate whether
the option of a Prize Linked Savings (PLS) product alters the likelihood that subjects choose …

This paper studies the adoption and impact of prize-linked savings (PLS) accounts, which
offer lottery-like payouts to individual account holders in lieu of interest. Using microlevel …

Savings have an important role as alternative funding when the primary income is in trouble.
Previous research on saving behavior has been carried out fragmentary, which causes the …

Low incomes, limited financial literacy, fraud, and deception are just a few of the many
intractable economic and social factors that contribute to the financial difficulties that …

In the United States, the lack of personal savings has been a perennial concern in the world
of public policy. Policymakers and other practitioners constantly struggle with how to …

Financial innovation in recent decades has expanded portfolio choice. We investigate how
greater choice affects investors' savings and asset returns. We establish a choice channel by …

Many households lack savings to cushion them from financial shocks. While behavioural
economics offers insights into why some households fail to save, successful behavioural …

A series of randomized field experiments tests whether saving rates in a federally funded,
matched, savings program for low-income families–the Individual Development Account …

Building savings is key for individuals and families to protect and improve their financial well-
being. Even small amounts of savings can increase financial security; households with a …