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...

Full description

Saved in:
Bibliographic Details
Published inThe American economic review Vol. 97; no. 3; pp. 966 - 972
Main Authors Ameriks, John, Caplin, Andrew, Leahy, John, Tyler, Tom
Format Journal Article
LanguageEnglish
Published Nashville American Economic Association 01.06.2007
Subjects
Absolute value
Adults
Age
Consumer behavior
Consumption
Control theory
Economic theory
Financial assets
Households
Liquid assets
Measurement
Personality
Restaurants
Retirement
Retirement age
Self control
Self-management
Social economics
Studies
Temptation
Wealth
Online AccessGet full text
ISSN0002-8282
1944-7981
DOI10.1257/aer.97.3.966

Cover

More Information
Summary: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)
Bibliography:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ObjectType-Article-2
content type line 23
ISSN:0002-8282
1944-7981
DOI:10.1257/aer.97.3.966