Measuring Self-Control

John Ameriks (), Andrew Caplin (), John Leahy () and Tom Tyler

No 10514, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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-consumption are no more prevalent than are problems of under-consumption. 2.Standard self-control problems do impede wealth accumulation, particularly in liquid form. Problems of under-consumption have the opposite effects. 3.Self-control is linked to conscientiousness' much studied by psychologists. There is a related link with financial planning.

JEL-codes: D1 D9 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hpe
Date: 2004-05
Note: EFG
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