Household Finance

The department Household Finance conducts research on the financial decisions of private households and the interplay between the supply of and the demand for financial services. The research projects in this area are united by the overarching goal of developing solutions that lead to better financial decisions by households. In addition to the microeconomic perspective, the department also follows a macroeconomic perspective, for example concerning the design of pension systems as a determinant of both the depth and width of capital markets and long-term wealth formation in the household sector of an economy.


Publications

Author/s Title Area Type Published
Christine Laudenbach, Annika Weber, Rüdiger Weber, Johannes Wohlfart Beliefs About the Stock Market and Investment Choices: Evidence from a Field Experiment
Review of Financial Studies
Household Finance Published Paper 2026
Rainer Niemann, Anna Rohlfing-Bastian Carbon Taxes and ESG Compensation
SAFE Working Paper No. 485
Household Finance SAFE Working Paper 2026
Peter Andre, Teodora Boneva, Felix Chopra, Armin Falk Homo cooperans: Understanding the nature of human cooperation
Science
Household Finance Published Paper 2026
Vanya Horneff, Raimond Maurer, Olivia S. Mitchell Defaulting 401(k) Assets into Payout Annuities For “Pretty Good” Lifetime Incomes
SAFE Working Paper No. 484
Household Finance SAFE Working Paper 2026
Olga Balakina, Claes Bäckman, Andreas Hackethal, Tobin Hanspal, Dominique Lammer Personal Financial Advice and Portfolio Quality
Review of Finance
Household Finance Published Paper 2026
Christine Laudenbach, Ulrike M. Malmendier, Alexandra Niessen-Ruenzi The Long-Lasting Effects of Living under Communism on Attitudes towards Financial Markets
The Journal of Finance
Household Finance Published Paper 2026
Peter Andre, Felix Chopra, Luca Michels, Johannes Wohlfart Do People Have Economic Expectations?
SAFE Working Paper No. 475
Household Finance, Experiment Center SAFE Working Paper 2026
Peter Andre, Paul Heidhues, Botond Köszegi, Takeshi Murooka Procrastination and Competition Failure
SAFE Working Paper No. 477
Household Finance SAFE Working Paper 2026
Andreas Fuster, Virginia Gianinazzi, Andreas Hackethal, Philip Schnorpfeil, Michael Weber The Response of Debtors to Rate Changes
SAFE Working Paper No. 469
Household Finance SAFE Working Paper 2026
Peter Andre, Claudia Schaffranka, Michael Weber Upward Bias in Inflation Perceptions: Persistence, Relevance, Implications (prepared at the request of the European Parliament)
White Paper No. 117
Household Finance Policy Paper 2026

Current Research Team

Researcher Position
Bäckman, Claes Postdoctoral Researcher
Balakina, Olga Postdoctoral Researcher
Chen, Jasmine Doctoral Student
Duraj, Kamila Doctoral Student
Eyting, Markus Postdoctoral Researcher
Famulok, Jakob Doctoral Student
Gill, Andrej SAFE Fellow
Hackethal, Andreas Professor
Hett, Florian SAFE Fellow
Jürß, Anika Doctoral Student
Laudenbach, Christine Professor
Liebich, Lena Doctoral Student
Maurer, Raimond SAFE Fellow
Meyer, Steffen SAFE Fellow
Mitchell, Olivia S. SAFE Fellow
Wies, Simone SAFE Fellow