MEASURING SELF-CONTROL PROBLEMS: A STRUCTURAL ESTIMATION
نویسندگان
چکیده
منابع مشابه
Measuring Self-control Problems: a Structural Estimation
We perform a structural estimation of the preference parameters in a buffer-stock consumption model augmented with temptation disutility. We adopt a two-stage Method of Simulated Moments methodology to match our simulated moments with those observed in the US Survey of Consumer Finances. To identify the parameters we use liquid and quasi-liquid (retirement) wealth holdings at different ages as ...
متن کاملMeasuring Self-Control Problems
Ameriks, Caplin, Leahy & Tyler (2007) study how lack of self-control may lead to overconsumption and low wealth accumulation. For their analysis, the authors calculate difference scores from their survey questions. We review their study and highlight potential issues in the use of difference scores such as lack of reliability, validity, spurious correlation and variance restriction. The concern...
متن کاملMeasuring Self-Control Problems
While models of self-control problems have proliferated in recent years, there have been few corresponding advances in measurement. We develop a survey instrument to measure selfcontrol problems and apply it to a sample of highly educated adults. Measured self-control relates in the anticipated manner to wealth accumulation and standard personality measures. Yet while self-control problems are ...
متن کاملMeasuring Self-Control
How significant are individual differences in self-control? Do these differences impact wealth accumulation? From where do they derive? Our survey-based measure of self-control provides insights into all three questions: 1. There are individual differences in self-control not only of a quantitative but also of a qualitative nature. In our sample, standard self-control problems of over-consumpti...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2012
ISSN: 1542-4766
DOI: 10.1111/j.1542-4774.2012.01076.x