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http://hdl.handle.net/10419/35670
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| Title: | | Present-biased preferences and credit card borrowing  |
| Authors: | | Meier, Stephan Sprenger, Charles D. |
| Issue Date: | | 2009 |
| Series/Report no.: | | IZA discussion papers 4198 |
| 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. |
| Subjects: | | Time preferences dynamic inconsistency credit card borrowing field experiment |
| JEL: | | D12 D14 D91 C93 |
| Persistent Identifier of the first edition: | | urn:nbn:de:101:1-20090615131 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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