Arbeitspapier
Control thyself: Self-control failure and household wealth
We examine the relationship between household wealth and self-control. Although self-control has been linked to consumption and financial behavior, its measurement remains an open issue. We employ a definition of self-control failure that follows literature in psychology, suggesting that three factors can render self-control defective: lack of planning, lack of monitoring, and lack of commitment to pre-set plans. Our measure combines those three ingredients 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.
- Language
-
Englisch
- Bibliographic citation
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Series: SAFE Working Paper ; No. 69
- Classification
-
Wirtschaft
Microeconomic Behavior: Underlying Principles
Consumer Economics: Empirical Analysis
Household Saving; Personal Finance
- Subject
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Self-Control
Household Wealth
Household Finance
- Event
-
Geistige Schöpfung
- (who)
-
Biljanovska, Nina
Palligkinis, Spyros
- Event
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Veröffentlichung
- (who)
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Goethe University Frankfurt, SAFE - Sustainable Architecture for Finance in Europe
- (where)
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Frankfurt a. M.
- (when)
-
2014
- DOI
-
doi:10.2139/ssrn.2509080
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Biljanovska, Nina
- Palligkinis, Spyros
- Goethe University Frankfurt, SAFE - Sustainable Architecture for Finance in Europe
Time of origin
- 2014
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