Evidence on Expectations of Household Finances

References

• Bénabou R, Tirole J (2002) Self-confidence and personal motivation. Quart. J. Econom. 117(3):871–915.Crossref, Google Scholar
• Bénabou R, Tirole J (2011) Identity, morals and taboos: Beliefs as assets. Quart. J. Econom. 126(2):805–855.Crossref, Google Scholar
• Ben-David I, Fermand E, Kuhnen CM, Li G (2024) Extrapolative uncertainty and household economic behavior. Management Sci. 70(8):5607–5625.Google Scholar
• Bhutta N, Skiba PM, Tobacman J (2015) Payday loan choices and consequences. J. Money Credit Banking 47(2–3):223–261.Crossref, Google Scholar
• Bordalo P, Gennaioli N, Shleifer A (2018) Diagnostic expectations and credit cycles. J. Finance 73(1):199–227.Crossref, Google Scholar
• Bordalo P, Gennaioli N, Ma Y, Shleifer A (2020) Overreaction in macroeconomic expectations. Amer. Econom. Rev. 110(9):2748–2782.Crossref, Google Scholar
• Bordalo P, Gennaioli N, Porta RL, Shleifer A (2019) Diagnostic expectations and stock returns. J. Finance 74(6):2839–2874.Crossref, Google Scholar
• Brown S, Taylor K (2006) Financial expectations, consumption and saving: A microeconomic analysis. Fiscal Stud. 27(3):313–338.Crossref, Google Scholar
• Brunnermeier MK, Parker JA (2005) Optimal expectations. Amer. Econom. Rev. 95(4):1092–1118.Crossref, Google Scholar
• Campbell JY (2006) Household finance. J. Finance 61(4):1553–1604.Crossref, Google Scholar
• Das S, Kuhnen C, Nagel S (2020) Socioeconomic status and macroeconomic expectations. Rev. Financial Stud. 33(1):395–432.Crossref, Google Scholar
• Farmer LE, Nakamura E, Steinsson J (2024) Learning about the long run. J. Political Econom. 132(10):3334–3377.Crossref, Google Scholar
• Gennaioli N, Ma Y, Shleifer A (2016) Expectations and investment. NBER Macroeconom. Annual 30:379–431.Crossref, Google Scholar
• Giglio S, Maggiori M, Stroebel J, Utkus S (2021) Five facts about beliefs and portfolios. Amer. Econom. Rev. 111(5):1481–1522.Crossref, Google Scholar
• Greenwood R, Nagel S (2009) Inexperienced investors and bubbles. J. Financial Econom. 93(2):239–258.Crossref, Google Scholar
• Greenwood R, Shleifer A (2014) Expectations of returns and expected returns. Rev. Financial Stud. 27(3):714–746.Crossref, Google Scholar
• Guiso L, Sodini P (2013) Household finance: An emerging field. Constantinides GM, Harris M, Stulz RM, eds. Handbook of the Economics of Finance, vol. 2, part B (Elsevier, Amsterdam), 1397–1532.Google Scholar
• Guiso L, Haliassos M, Jappelli T (1997) Household Portfolios (MIT Press, Cambridge, MA).Google Scholar
• Kaustia M, Knüpfer S (2008) Do investors overweight personal experience? Evidence from IPO subscriptions. J. Finance 63(6):2679–2702.Crossref, Google Scholar
• Kuchler T, Zafar B (2019) Personal experiences and expectations about aggregate outcomes. J. Finance 74(5):2491–2542.Crossref, Google Scholar
• Kuhnen CM (2015) Asymmetric learning from financial information. J. Finance 70(5):2029–2062.Crossref, Google Scholar
• Li Z, Van Nieuwerburgh S, Renxuan W (2025) Understanding rationality and disagreement in house price expectations. Rev. Financial Stud. Forthcoming.Google Scholar
• Makridis C (2019) Sentimental business cycles and the protracted great recession. Working paper, Stanford University, Stanford, CA.Google Scholar
• Malmendier U, Nagel S (2011) Depression babies: Do macroeconomic experiences affect risk-taking. Quart. J. Econom. 126(1):373–416.Crossref, Google Scholar
• Malmendier U, Nagel S (2016) Learning from inflation experiences. Quart. J. Econom. 131(1):53–87.Crossref, Google Scholar
• Malmendier U, Shen LS (2024) Scarred consumption. Amer. Econom. J. Macroeconomics 16(1):322–355.Google Scholar
• Malmendier U, Nagel S, Yan Z (2021) The making of hawks and doves. J. Monetary Econom. 117:19–42.Crossref, Google Scholar
• Malmendier U, Tate G, Yan J (2011) Overconfidence and early-life experiences: The effect of managerial traits on corporate financial policies. J. Finance 66(5):1687–1733.Crossref, Google Scholar
• Manski CF (2018) Survey measurement of probabilistic macroeconomic expectations: Progress and promise. NBER Macroeconom. Annual 32(1):411–471.Crossref, Google Scholar
• Melzer B (2011) The real costs of credit access: Evidence from the payday lending market. Quart. J. Econom. 126(1):517–555.Crossref, Google Scholar
• Morse A (2011) Payday lenders: Heroes or villains? J. Financial Econom. 102(1):28–44.Crossref, Google Scholar
• Puri M, Robinson DT (2007) Optimism and economic choice. J. Financial Econom. 86(1):71–99.Crossref, Google Scholar
• Rozsypal F, Schlafmann K (2023) Overpersistence bias in individual income expectations and its aggregate implications. Amer. Econom. J. Macroeconom. 15(4):331–371.Crossref, Google Scholar
• Souleles NS (2004) Expectations, heterogeneous forecast errors, and consumption: Micro evidence from the Michigan consumer sentiment surveys. J. Money Credit Banking 36(1):39–72.Crossref, Google Scholar
• University of Essex, Institute for Social and Economic Research (2010) British Household Panel Survey: Waves 1–18, 1991–2009, Study No. 5151, 7th ed. (UK Data Archive, Colchester, UK).Google Scholar
• Vellekoop N, Wiederholt M (2019) Inflation expectations and choices of households. SAFE Working Paper No. 250, Leibniz Institute for Financial Research SAFE, Frankfurt am Main, Germany.Google Scholar
• Vissing-Jorgensen A (2003) Perspectives on behavioral finance: Does irrationality disappear with wealth? Evidence from expectations and actions. NBER Macroeconom. Annual 18:139–194.Crossref, Google Scholar