Repository logo
  • English
  • Català
  • Čeština
  • Deutsch
  • Español
  • Français
  • Gàidhlig
  • Latviešu
  • Magyar
  • Nederlands
  • Polski
  • Português
  • Português do Brasil
  • Suomi
  • Svenska
  • Türkçe
  • Қазақ
  • বাংলা
  • हिंदी
  • Ελληνικά
  • Yкраї́нська
  • Log In
    or
    New user? Click here to register.Have you forgotten your password?
Repository logo
  • PRISM

  • Communities & Collections
  • All of PRISM
  • English
  • Català
  • Čeština
  • Deutsch
  • Español
  • Français
  • Gàidhlig
  • Latviešu
  • Magyar
  • Nederlands
  • Polski
  • Português
  • Português do Brasil
  • Suomi
  • Svenska
  • Türkçe
  • Қазақ
  • বাংলা
  • हिंदी
  • Ελληνικά
  • Yкраї́нська
  • Log In
    or
    New user? Click here to register.Have you forgotten your password?
  1. Home
  2. Browse by Author

Browsing by Author "Laughren, Kevin"

Now showing 1 - 1 of 1
Results Per Page
Sort Options
  • Loading...
    Thumbnail Image
    Item
    Open Access
    Banking on lottery tickets: A behavioural study of prize-linked savings
    (2013-08-27) Laughren, Kevin; Oxoby, Robert
    Research has identified lower income Canadians who could improve their welfare if availed consumption smoothing through income rationing or savings. Likely, some such individuals struggle to save because their preferences are not well represented by expected utility theory, including those exhibiting hyperbolic discounting. Prize-linked savings (PLS) programs like Britain’s Premium Bond offer principal protection with the chance of winning monetary prizes. They have demonstrated success in creating new savers, but Canadian versions are only sparsely available through NGOs. I test individual risk preferences in a portfolio building laboratory experiment, and find individuals primed to perceive their income as low take significantly more risk. Further, these individuals significantly reduce risk when presented a PLS option. I posit this behaviour can be explained by social preferences like the inequity aversion described by Fehr and Schmidt (1999), and find their model significantly outperforms the classical model in predicting behaviour in this experiment.

Libraries & Cultural Resources

  • Contact us
  • 403.220.8895
Start Something.
  • Digital Privacy Statement
  • Privacy Policy
  • Website feedback

University of Calgary
2500 University Drive NW
Calgary Alberta T2N 1N4
CANADA

Copyright © 2023

The University of Calgary acknowledges the traditional territories of the people of the Treaty 7 region in Southern Alberta, which includes the Blackfoot Confederacy (comprised of the Siksika, Piikani, and Kainai First Nations), as well as the Tsuut’ina First Nation, and the Stoney Nakoda (including the Chiniki, Bearspaw and Wesley First Nations). The City of Calgary is also home to Metis Nation of Alberta, Region 3. The University of Calgary acknowledges the impact of colonization on Indigenous peoples in Canada and is committed to our collective journey towards reconciliation to create a welcome and inclusive campus that encourages Indigenous ways of knowing, doing, connecting and being.