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Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
SAFE Working Paper No. 69
Verlag: 
Goethe University Frankfurt, SAFE - Sustainable Architecture for Finance in Europe, Frankfurt a. M.
Zusammenfassung: 
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.
Schlagwörter: 
Self-Control
Household Wealth
Household Finance
JEL: 
D01
D12
D14
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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