How to motivate people to save more money?
Dominika Maison and Tomasz Opalski Dom Badawczy Maison and ING Bank
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Introduction - the psychological background of financial behaviour
Traditional ways of explaining financial behaviours (including saving behaviour) use demographics (e.g. age, gender) and economic factors (mostly income and price of the product). Therefore it is often believed that people who have more money at their disposal (higher income) should have greater savings than those who have less money. Analogically, those who have more money should be more interested in...