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
Gyozo Gyöngyösi, Emil Verner Financial Crisis, Creditor-Debtor Conflict, and Populism
The Journal of Finance 		Household Finance Published Paper 2022
Dimitrios Kostopoulos, Steffen Meyer, Charline Uhr Ambiguity About Volatility and Investor Behavior
Journal of Financial Economics 		Household Finance Published Paper 2022
Andreas Hackethal, Tobin Hanspal, Dominique Lammer, Kevin Rink The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments
Review of Finance 		Household Finance Published Paper 2022
Olga Balakina, Claes Bäckman, Andreas Hackethal, Tobin Hanspal, Dominique Lammer Personal Financial Advice and Portfolio Quality
SAFE Working Paper No. 353 		Household Finance SAFE Working Paper 2022
Loriana Pelizzon, Anjan Thakor, Calebe de Roure P2P Lenders versus Banks: Cream Skimming or Bottom Fishing?
The Review of Corporate Financial Studies 		Household Finance Published Paper 2022
Fabian Nemeczek, Jan Wedigo Radermacher Personality-Augmented MPC: Linking Survey and Transaction Data to Explain MPC Heterogeneity by Big Five Personality Traits
SAFE Working Paper No. 348 		Household Finance SAFE Working Paper 2022
Andrej Gill, Florian Hett, Johannes Tischer Time Inconsistency and Overdraft Use: Evidence from Transaction Data and Behavioral Measurement Experiments
SAFE Working Paper No. 347 		Household Finance, Experiment Center SAFE Working Paper 2022
Florian Heider, Roman Inderst A Corporate Finance Perspective on Environmental Policy
SAFE Working Paper No. 345 		Law and Finance, Household Finance SAFE Working Paper 2022
Claes Bäckman, Tobin Hanspal Participation and Losses in Multi-Level Marketing: Evidence from a Federal Trade Commission Settlement
Finance Planning Review 		Household Finance Published Paper 2022
Steffen Eibelshäuser, Fabian Smetak Frequent Batch Auctions and Informed Trading
SAFE Working Paper No. 344 		Household Finance, Financial Markets SAFE Working Paper 2022

Ongoing Research Projects

Household Finance, Experiment Center

Leading by Example – The Causal Effect of Credible Action by Local Government on Citizens’ Motivation and Beliefs about Others to Flight Climate Change

Jakob Famulok, Michael Kosfeld, Christine Laudenbach
Household Finance, Experiment Center

Which Mechanisms Drive the Effects of Social Norms on Sustainable Investments?

Lea Voigt
Household Finance, Experiment Center

The Effect of Experienced Discrimination on Groupiness, Particularly Ingroup Favoritism

Marius Dietsch
Household Finance, Experiment Center

Overconfidence and the Gender Application Gap

Vincent Selz
Household Finance, Experiment Center

Leading by Example or Crowding out? The Effect of Governmental Leadership on Individuals’ Willingness to Act Against Climate Change: Follow Up

Jakob Famulok, Michael Kosfeld, Christine Laudenbach
Household Finance, Experiment Center

MIFID II Regulation and Scope for Motivated Sustainability Investments

Fabian Braun, Andrej Gill, Florian Hett
Household Finance, Experiment Center

Separating the Effects of Beliefs and Attitudes on Pricing under Ambiguity

Wenhui Li, Peter Ockenfels, Christian Wilde
Household Finance

Financial Advice and Guidance in Pension Finance

Tabea Bucher-Koenen, Andreas Hackethal, Johannes Kasinger, Christine Laudenbach
Household Finance, Experiment Center

Cooperation of Asymmetric Players

Matthias Blonski, Steffen Eibelshäuser, Hendrik Hegemann
Household Finance, Experiment Center

Moral Licensing through ESG Investments: Causal Evidence on Individuals' Preferences and Actions

Jakob Famulok, Emily Kormanyos, Daniel Worret, Daniel Worring
Household Finance

Stock Market Participation - A New Approach

Kamila Duraj, Daniela Grunow, Michael Haliassos, Christine Laudenbach, Stephan Siegel
Law and Finance, Household Finance, Experiment Center

Decentralized Feature Selection: Analysis of User Involvement in the Feature Selection Process of Machine Learning-based Systems

Kevin Bauer, Victor Klockmann, Jan Zacharias, Alicia von Schenk
Household Finance, Experiment Center

The Mechanisms behind the Effect of Echo Chambers on Biased Beliefs

Andreas Grunewald, Victor Klockmann, Alicia von Schenk, Ferdinand von Siemens
Household Finance, Experiment Center

Identity as an Excuse: Opportunistic Identity Management in Labor Markets

Kevin Bauer, Evgeniya Chabanova, Florian Hett
Household Finance, Experiment Center

Discrimination - Bank of Workers

Markus Eyting, Florian Hett
Household Finance, Experiment Center

Heterogeneity in Investor Preferences for Sustainable/Green Finance

Jakob Famulok, Michael Kosfeld, Christine Laudenbach
Household Finance, Experiment Center

Drivers of EV Adoption: The Role of Information Frictions

Aoife Fitzpatrick
Household Finance, Experiment Center

Strategic Self-Deception in Repeated Interaction

David Poensgen
Household Finance

The Impact of Monetary Conditions on Bank Lending Households

Gyozo Gyöngyösi, Steven Ongena, Ibolya Schindele
Household Finance, Experiment Center

The Effect of Echo Chambers on Biased Beliefs

Andreas Grunewald, Victor Klockmann, Alicia von Schenk, Ferdinand von Siemens
Communication, Echo Chambers, Biased Beliefs
Household Finance

Household Cash Management

Fabian Braun, Andrej Gill, Andreas Hackethal, Florian Hett, Michael Kosfeld
Short-term and long-term consumption response to systematic income shocks, liquid hand-to-mouth, behavioral measurement, time preferences, bounded rationality, robust heterogeneity, structural behavioral, experiential learning, goal setting, financial li
Household Finance

Communication Toolbox for Engaging and Aiding Women in Pension Planning (PENGAGE)

Andreas Hackethal, Bianca Putz
Household Finance

The Gender Wealth Gap: Participation in Financial Markets (GAP)

Kamila Duraj, Christine Laudenbach
Household Finance

The Impact of Unintended Discrimination in Financial Advice on Wealth Accumulation

Markus Eyting, Florian Hett, Christine Laudenbach
Household Finance

Personalized Communication and Repayment

Andrej Gill, Christine Laudenbach, Lena Liebich
Household Finance, Experiment Center

Developing Reliable and Globally Valid Measures for Economic Preferences – Worldwide Testing of the Global Preference Survey Module

Michael Kosfeld, Zahra Sharafi, Maíra Sontag González, Na Zou
Household Finance

Transition Labels in Climate Finance: Perception and Use by Private Investors (ClimLabels)

Olga Balakina, Jakob Famulok, Christine Laudenbach
Household Finance

Lifelong Learning and Innovative Financial Education for All (INNOFIB)

Olga Balakina, Winta Beyene, Kamila Duraj, Jakob Famulok, Andrej Gill, Florian Hett, Christine Laudenbach, Oscar Stolper
Household Finance

Hessenmonitor Finanzkompetenz

Christine Laudenbach

Current Research Team

Researcher Position
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
Laudenbach, Christine Professor
Liebich, Lena Doctoral Student
Maurer, Raimond SAFE Fellow
Meyer, Steffen SAFE Fellow
Mitchell, Olivia S. SAFE Fellow
Putz, Bianca Postdoctoral Researcher
Wies, Simone SAFE Fellow
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