The Psychology of Saving

A Study on Economic Psychology

The late Karl-Erik Wärneryd, formerly Professor Emeritus of Economic Psychology, Stockholm School of Economics, Sweden

This innovative book provides an up-to-date assessment of the factors accounting for the differences between people who save and people who do not save money.

‘This book is a major scholarly achievement, which deserves to be held in any academic library and should find its way onto the reading lists of a diverse range of courses. It will also be of considerable interest to public policymakers, who in the final chapter will find a rich array of suggestions of ways of affecting savings rates that focus on education and managing expectations rather than financial incentives such as interest rates and tax provisions. Wärneryd combines a comprehensive but very readable survey of the literature on saving with reports of recent work based on survey material from the VSB Panel database of the CentER for Economic Research at Tilburg University, garnishing the mix with many delightful quotations. It is a substantial volume.’
– Peter E. Earl, Journal of Economic Psyhology

‘Wärneryd, a respected Swedish academic, has written a thoughtful and interesting volume that advocates more psychological research on the motivations for saving. . . . Excellent bibliography; exceedingly complete index.’
– D.E. Bond, Choice

‘If you teach about saving, want to motivate higher rates of savings, or do research on any aspect of behavior related to saving, this book will be a guide and inspiration . . . This book could be the “only book you’ll ever need” on the psychology of saving. Seasoned researchers will reap the benefits of a thorough history along with a generous helping of European work that may not be familiar to North American readers.’
– Jean M. Lown, Utah State University, US

‘This is a stimulating and scholarly text.’
– Economic Outlook and Business Review