Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/307297 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of the Economic Science Association [ISSN:] 2199-6776 [Volume:] 8 [Issue:] 1 [Publisher:] Springer US [Place:] New York, NY [Year:] 2022 [Pages:] 56-84
Publisher: 
Springer US, New York, NY
Abstract: 
We replicate Meissner (Exp Econ 19:281–298, 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).
Subjects: 
Debt aversion
Replication
Intertemporal consumption and saving
JEL: 
C91
D84
G11
G41
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article
Document Version: 
Published Version

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