Measuring Self-Control Problems
AbstractWe develop a survey instrument to measure self-control problems in a sample of highly educated adults. This measure relates in the manner that theory predicts to liquid wealth accumulation and personality measures. Yet while self-control problems are typically seen as resulting in overconsumption and low wealth, we identify a significant group who underconsume and thereby accumulate high levels of wealth. In addition, self-control problems are smaller in scale for older than for younger respondents. Those who put money aside in retirement accounts may be delaying access to a point at which self-control problems are no longer important. (JEL D12, D14)
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 97 (2007)
Issue (Month): 3 (June)
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John Ameriks & Andrew Caplin & John Leahy & Tom Tyler, 2004. "Measuring Self-Control," NBER Working Papers 10514, National Bureau of Economic Research, Inc.
- Drew Fudenberg & David K. Levine, 2006.
"A Dual Self Model of Impulse Control,"
Harvard Institute of Economic Research Working Papers
2112, Harvard - Institute of Economic Research.
- Drew Fudenberg & David K Levine, 2005. "A Dual Self Model of Impulse Control," Levine's Working Paper Archive 618897000000000876, David K. Levine.
- Drew Fudenberg & David K. Levine, 2004. "A Dual Self Model of Impulse Control," Harvard Institute of Economic Research Working Papers 2049, Harvard - Institute of Economic Research.
- Fudenberg, Drew & Levine, David, 2006. "A Dual-Self Model of Impulse Control," Scholarly Articles 3196335, Harvard University Department of Economics.
- John Ameriks & Andrew Caplin & John Leahy, 2007.
"Retirement Consumption: Insights from a Survey,"
The Review of Economics and Statistics,
MIT Press, vol. 89(2), pages 265-274, May.
- Laibson, David I., 1997.
"Golden Eggs and Hyperbolic Discounting,"
4481499, Harvard University Department of Economics.
- John Ameriks & Andrew Caplin & John Leahy, 2003.
"Wealth Accumulation And The Propensity To Plan,"
The Quarterly Journal of Economics,
MIT Press, vol. 118(3), pages 1007-1047, August.
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