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Intertemporal Consumption and Debt Aversion: A Replication and Extension

Steffen Ahrens (), Ciril Bosch-Rosa and Thomas Meissner

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Abstract: We replicate Meissner (2016), where debt aversion was reported for the first time in an intertemporal consumption and saving problem. While Meissner (2016) uses a German sample, our participants are US undergraduate students. All of the original study's main findings replicate with similar effect sizes. Additionally, we extend the original analysis by introducing a new individual index of debt aversion, which we use to compare debt aversion across countries. Interestingly, we find no significant differences in debt aversion between the original German and the new US sample. We then test whether debt aversion correlates with individual characteristics such as gender, cognitive reflection ability, and risk aversion. Overall, this paper confirms the importance of debt aversion in intertemporal consumption and saving problems and validates the approach of Meissner (2016).

Date: 2022-01, Revised 2022-06
New Economics Papers: this item is included in nep-cbe and nep-upt
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Working Paper: Intertemporal Consumption and Debt Aversion: A Replication and Extension (2022) Downloads
Working Paper: Intertemporal consumption and debt aversion: A replication and extension (2022) Downloads
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