Control thyself: Self-control failure and household wealth

Nina Biljanovska and Spyros Palligkinis

Journal of Banking & Finance, 2018, vol. 92, issue C, 280-294

Abstract: We examine the relationship between self-control and household wealth. Building on literature in psychology, we take a more comprehensive approach to the concept of self-control and posit that it consists of three ingredients: planning, monitoring, and commitment to pre-set goals. We build a measure which combines those three components and can be computed using a standard representative survey. We find that self-control failure is strongly associated with different household net wealth measures and with self-assessed financial distress.

Keywords: Self-control; Household wealth; Household finance (search for similar items in EconPapers)
JEL-codes: D01 D12 D14 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378426616301947
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jbfina:v:92:y:2018:i:c:p:280-294

DOI: 10.1016/j.jbankfin.2016.10.010

Access Statistics for this article

Journal of Banking & Finance is currently edited by Ike Mathur

More articles in Journal of Banking & Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().