TY  - UNPD
A1  - Biljanovska, Nina
A1  - Palligkinis, Spyros
T1  - Control thyself: self-control failure and household wealth
T2  - SAFE working paper series ; No. 69
N2  - 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.
T3  - SAFE working paper - 69 
KW  - Self-Control
KW  - Household Wealth
KW  - Household Finance
Y1  - 2014
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/34859
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-348599
UR  - http://safe-frankfurt.de/de/forschung/publikationen/working-paper-series.html
UR  - http://ssrn.com/abstract=2509080
IS  - October 9, 2014
PB  - SAFE
CY  - Frankfurt am Main
ER  -