Reinforcement Learning and Savings Behavior
نویسندگان
چکیده
منابع مشابه
Reinforcement Learning and Savings Behavior.
We show that individual investors over-extrapolate from their personal experience when making savings decisions. Investors who experience particularly rewarding outcomes from saving in their 401(k)-a high average and/or low variance return-increase their 401(k) savings rate more than investors who have less rewarding experiences with saving. This finding is not driven by aggregate time-series s...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 2009
ISSN: 0022-1082
DOI: 10.1111/j.1540-6261.2009.01509.x