Measuring Self-Control Problems

We 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 an...

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Vydáno v:The American economic review Ročník 97; číslo 3; s. 966 - 972
Hlavní autoři: Ameriks, John, Caplin, Andrew, Leahy, John, Tyler, Tom
Médium: Journal Article
Jazyk:angličtina
Vydáno: Nashville American Economic Association 01.06.2007
Témata:
Absolute value
Accumulation
Adults
Age
Behavior problems
Consumer behavior
Consumption
Control theory
Economic theory
Financial assets
Households
Liquid assets
Measurement
Measures
Money
Personality
Personality tests
Respondents
Restaurants
Retirement
Retirement age
Self control
Self-management
Social economics
Studies
Temptation
Wealth
ISSN:0002-8282, 1944-7981
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Shrnutí:We 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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ISSN:0002-8282
1944-7981
DOI:10.1257/aer.97.3.966