Making Sense of Oil Stamp Saving Schemes
An increasing number of households in Northern Ireland has started to collect oil stamps in recent years - i.e. small pieces of paper which can be purchased at specified outlets, collected on an oil stamps savings card, and used to pay in full or part for one's oil bill. In this paper, we explore why this is. After ruling out high costs associated with more conventional savings vehicles (such as bank accounts) and the notion that oil stamps serve some purpose other than saving for heating oil as possible explanations, we test two main hypotheses: i) oil stamps as 'self-control' mechanism and ii) oil stamps as 'other-control' mechanism. While we find little evidence for the first hypothesis, we do find evidence for the second one. More specifically, we find that collecting oil stamps is strongly correlated with differences in views among household members with regard to how much priority to give to saving for heating oil. To rule out 'salience effects' as an alternative explanation, we test whether oil stamps increase households' savings performance. We find that they do.
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.:
- Siwan Anderson, 2000.
"The Economics of Roscas and Intra-Household Resource Allocation,"
Econometric Society World Congress 2000 Contributed Papers
1323, Econometric Society.
- Siwan Anderson & Jean-Marie Baland, 2002. "The Economics of Roscas and Intrahousehold Resource Allocation," The Quarterly Journal of Economics, Oxford University Press, vol. 117(3), pages 963-995.
- Anderson, K.S. & Baland, J-M., 2000. "The Economics of Roscas and Intra-Household Resource Allocation," Discussion Paper 2000-83, Tilburg University, Center for Economic Research.
- repec:fth:prinin:317 is not listed on IDEAS
- anonymous, 1999. "Banking relationships of lower-income families and the governmental trend toward electronic payment," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jul, pages 459-473.
- Katrin Rehdanz, 2005.
"Determinants Of Residential Space Heating Expenditures In Germany,"
FNU-66, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2005.
- Rehdanz, Katrin, 2007. "Determinants of residential space heating expenditures in Germany," Energy Economics, Elsevier, vol. 29(2), pages 167-182, March.
- Meier, Helena & Rehdanz, Katrin, 2008.
"Determinants of residential space heating expenditures in Great Britain,"
Kiel Working Papers
1439, Kiel Institute for the World Economy (IfW).
- Meier, Helena & Rehdanz, Katrin, 2010. "Determinants of residential space heating expenditures in Great Britain," Energy Economics, Elsevier, vol. 32(5), pages 949-959, September.
- Helena Meier & Katrin Rehdanz, 2008. "Determinants of Residential Space Heating Expenditures in Great Britain," Working Papers FNU-166, Research unit Sustainability and Global Change, Hamburg University, revised Jul 2008.
- Helena Meier & Katrin Rehdanz, 2008. "Determinants of residential space heating expenditures in Great Britain," Kiel Working Papers 1439, Kiel Institute for the World Economy.
- O'Donoghue, Ted & Rabin, Matthew, 1997.
"Doing It Now or Later,"
Department of Economics, Working Paper Series
qt7t44m5b0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Ted O'Donoghue and Matthew Rabin ., 1997. "Doing It Now or Later," Economics Working Papers 97-253, University of California at Berkeley.
- Ted O'Donoghue & Matthew Rabin, 1996. "Doing It Now or Later," Discussion Papers 1172, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Gharad Bryan & Dean Karlan & Scott Nelson, 2010. "Commitment Devices," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 671-698, 09.
- Frölich, Markus, 2002.
"Nonparametric IV Estimation of Local Average Treatment Effects with Covariates,"
IZA Discussion Papers
588, Institute for the Study of Labor (IZA).
- Frolich, Markus, 2007. "Nonparametric IV estimation of local average treatment effects with covariates," Journal of Econometrics, Elsevier, vol. 139(1), pages 35-75, July.
- Markus Froelich, 2002. "Nonparametric IV estimation of local average treatment effects with covariates," University of St. Gallen Department of Economics working paper series 2002 2002-19, Department of Economics, University of St. Gallen.
- Joshua Angrist & Ivan Fernandez-Val, 2010. "ExtrapoLATE-ing: External Validity and Overidentification in the LATE Framework," NBER Working Papers 16566, National Bureau of Economic Research, Inc.
- Guido W. Imbens & Donald B. Rubin, 1997. "Estimating Outcome Distributions for Compliers in Instrumental Variables Models," Review of Economic Studies, Oxford University Press, vol. 64(4), pages 555-574.
- Dubin, Jeffrey A & McFadden, Daniel L, 1984. "An Econometric Analysis of Residential Electric Appliance Holdings and Consumption," Econometrica, Econometric Society, vol. 52(2), pages 345-62, March.
- Hoddinott, John & Haddad, Lawrence, 1995. "Does Female Income Share Influence Household Expenditures? Evidence from Cote d'Ivoire," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(1), pages 77-96, February.
- David Card, 1993. "Using Geographic Variation in College Proximity to Estimate the Return to Schooling," NBER Working Papers 4483, National Bureau of Economic Research, Inc.
- Waldfogel, Joel, 1993. "The Deadweight Loss of Christmas," American Economic Review, American Economic Association, vol. 83(5), pages 1328-36, December.
- John Ameriks & Andrew Caplin & John Leahy & Tom Tyler, 2004. "Measuring Self-Control," NBER Working Papers 10514, National Bureau of Economic Research, Inc.
- Abadie, Alberto, 2003. "Semiparametric instrumental variable estimation of treatment response models," Journal of Econometrics, Elsevier, vol. 113(2), pages 231-263, April.
When requesting a correction, please mention this item's handle: RePEc:cam:camdae:1203. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jake Dyer)
If references are entirely missing, you can add them using this form.