@techreport{96691d61ad35456dbaf5274dc95d4238,
title = "Towards Understanding Life Cycle Saving Of Boundedly Rational Agents: A Model With Feasibility Goals - Replaced by CentER Discussion Paper 2010-138",
abstract = "This paper develops a new life cycle model that aims to describe the savings and asset allocation decisions of boundedly rational agents. The paper{\textquoteright}s main theoretical contribution is the provision of a simple, tractable and parsimonious framework within which agents make forward looking decisions in the absence of full contingent planning. Instead, agents pursue two simple so-called feasibility goals. The paper uses this framework to shed light on important empirical patterns of asset allocation that are puzzling from the point of view of existing models.",
keywords = "Behavioral economics, bounded rationality, equity shares, feasibility goals, life cycle saving, stock market participation",
author = "J. Binswanger",
note = "Subsequently published in the Journal of Economic Behavior & Organization (2011) Pagination: 45",
year = "2008",
language = "English",
volume = "2008-14",
series = "CentER Discussion Paper",
publisher = "Macroeconomics",
type = "WorkingPaper",
institution = "Macroeconomics",
}