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Heterogeneity in Intra-Monthly Consumption Patterns, Self-Control, and Savings at Retirement

  • Giovanni Mastrobuoni
  • Matthew Weinberg

Using data from the Continuing Survey of Food Intake by Individuals, this pa- per describes the shape of consumption profiles over the month for Social Security benefit recipients. Individuals with income mostly made up of Social Security ben- efits and who have some savings smooth consumption over the pay period, while individuals with little savings consume 25 percent fewer calories the week before checks are received relative to the week after checks are received. The findings for individuals with little savings are inconsistent with the Permanent Income/Lifecycle Hypothesis, but are consistent with hyperbolic discounting.

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Paper provided by Collegio Carlo Alberto in its series Carlo Alberto Notebooks with number 36.

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Length: 35 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:cca:wpaper:36
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