@techreport{Meier2009Present,
abstract = {Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to individual credit reports and annual tax returns. The results indicate that present-biased individuals are more likely to have credit card debt, and have significantly higher amounts of credit card debt, controlling for disposable income, other socio-demographics, and credit constraints.},
address = {Bonn},
author = {Stephan Meier and Charles D. Sprenger},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D12; D14; D91; C93; 330; Time preferences; dynamic inconsistency; credit card borrowing; field experiment; Private Verschuldung; Kreditkarte; Konsumentenverhalten; Zeitpr\"{a}ferenz; USA},
language = {eng},
note = {urn:nbn:de:101:1-20090615131},
number = {4198},
publisher = {IZA},
title = {Present-biased preferences and credit card borrowing},
type = {IZA discussion papers},
url = {http://hdl.handle.net/10419/35670},
year = {2009}
}
