The DOI matches its Crossref record; 33 of the 112 references it cites were found in a registry or an index, and 79 are not checked yet.
Golden Eggs and Hyperbolic Discounting
Open accessAbstract
Hyperbolic discount functions induce dynamically inconsistent preferences, implying a motive for consumers to constrain their own future choices. This paper analyzes the decisions of a hyperbolic consumer who has access to an imperfect commitment technology: an illiquid asset whose sale must be initiated one period before the sale proceeds are received. The model predicts that consumption tracks income, and the model explains why consumers have asset-specific marginal propensities to consume. The model suggests that financial innovation may have caused the ongoing decline in U. S. savings rates, since financial innovation increases liquidity, eliminating commitment opportunities. Finally, the model implies that financial market innovation may reduce welfare by providing "too much" liquidity.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
The source backs part of the claim, not all of it — or backs it for a different population, condition or comparison.
In the citing paper
“If there is a choice, individuals usually choose a small benefit in the short term over a larger benefit in the longer term.”
From The privacy paradox – investigating discrepancies between expressed privacy concerns and actual online behavior – a systematic literature review (2017) · cites this paper as Laibson, 1997
Experimental — accuracy not yet measured
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Filders, R. (1992) · International Journal of Forecasting · doi:10.1016/0169-2070(92)90130-2 · Cited by 16,765
Stock, V. A., & Evans, M. D. (2010) · The Review of Economic Studies · doi:10.1111/(issn)1467-937x · Cited by 2,989
Uninsured Idiosyncratic Risk and Aggregate Saving
Aiyagari, S. R. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118417 · Cited by 2,900
Myopia and Inconsistency in Dynamic Utility Maximization
Strotz, R. H. (1973) · doi:10.1007/978-1-349-15492-0_10 · Cited by 2,803
Specious reward: A behavioral theory of impulsiveness and impulse control.
Ainslie, G. (1975) · Psychological Bulletin · doi:10.1037/h0076860 · Cited by 2,708
Psychology and Economics: Evidence from the Field
DellaVigna, S. (2009) · Journal of Economic Literature · doi:10.1257/jel.47.2.315 · Cited by 2,412
Anomalies in Intertemporal Choice: Evidence and an Interpretation
Loewenstein, G., & Prelec, D. (1992) · The Quarterly Journal of Economics · doi:10.2307/2118482 · Cited by 2,305
(2009) · American Economic Review · doi:10.1257/aer.99.4.i · Cited by 2,304
RELATIVE AND ABSOLUTE STRENGTH OF RESPONSE AS A FUNCTION OF FREQUENCY OF REINFORCEMENT 1, 2
Herrnstein, R. J. (1961) · Journal of the Experimental Analysis of Behavior · doi:10.1901/jeab.1961.4-267 · Cited by 2,281
Consumption and Liquidity Constraints: An Empirical Investigation
Zeldes, S. P. (1989) · Journal of Political Economy · doi:10.1086/261605 · Cited by 1,933
Research works printed but not linked: 11
- - "Beyond Microeconomics. Conflict among Interests in a Multiple Self as a Determinant of Value." in The Multiple Self, Jon Elster, ed. (Cambridge, UK: Cambridge University Press, 1986).
- - Picoeconomics (Cambridge, UK: Cambridge University Press, 1992).
- Canner B., 1992, Federal Reserve Bulletin, 652
- Canner B., 1994, Federal Reserve Bulletin, 571
- Carroll D., 1992, Brookings Papers on Economics Activity (, 2
- Chung J., 1961, Journal of the Experimental Analysis of Animal Behavior, 267
- Flavin, 1991, NBER Working Paper No., 3802
- 1996, NBER Working Paper No., 5635
- Rankin M., 1993, New York Times, 33
- Shea, 1995, American Economic Review, 186
- Zeckhauser, 1968, Harvard Institute of Economic Research, Discussion Paper No., 50
Cited by
Sorted by citations
Items 501–600 of 1,003
Consumer purchasing patterns in response to calorie labeling legislation in New York City
Vadiveloo, M. K., Dixon, L. B., & Elbel, B. D. (2011) · International Journal of Behavioral Nutrition and Physical Activity · doi:10.1186/1479-5868-8-51 · Cited by 132
Rational irrationality: Some economics of self-management
Jean Tirole, Z. (2002) · European Economic Review · doi:10.1016/s0014-2921(01)00206-9 · Cited by 134
Getting to the Top of Mind: How Reminders Increase SavingPreprint
Karlan, D., McConnell, M. A., Mullainathan, S., & Zinman, J. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1652784 · Cited by 130
Ali, S. N. (2011) · The Quarterly Journal of Economics · doi:10.1093/qje/qjr014 · Cited by 151
Ericson, K. M., & Laibson, D. (2019) · Handbook of Behavioral Economics: Applications and Foundations 1 · doi:10.1016/bs.hesbe.2018.12.001 · Cited by 125
Self-citationKable, J. W., Caulfield, M. K., Falcone, M., McConnell, M., Bernardo, L., Parthasarathi, T., Cooper, N., Ashare, R., Audrain-McGovern, J., Hornik, R., et al. (2017) · The Journal of Neuroscience · doi:10.1523/jneurosci.2832-16.2017 · Cited by 124
Hsiaw, A. (2013) · Journal of Economic Theory · doi:10.1016/j.jet.2012.08.001 · Cited by 137
Sticking to your plan: The role of present bias for credit card paydown
Kuchler, T., & Pagel, M. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.08.002 · Cited by 137
Battaglini, M., Bénabou, R., & Jean Tirole, Z. (2005) · Journal of Economic Theory · doi:10.1016/j.jet.2005.04.001 · Cited by 128
Understanding overeating and obesity
Ruhm, C. J. (2012) · Journal of Health Economics · doi:10.1016/j.jhealeco.2012.07.004 · Cited by 135
Dual Process Theories in Behavioral Economics and Neuroeconomics: a Critical Review
Grayot, J. D. (2019) · Review of Philosophy and Psychology · doi:10.1007/s13164-019-00446-9 · Cited by 150
Beshears, J. L., Choi, J. J., Laibson, D., & Madrian, B. C. (2018) · Handbook of behavioral economics · doi:10.1016/bs.hesbe.2018.07.004 · Cited by 138
Self-citationLiving Rationally Under The Volcano? An Empirical Analysis Of Heavy Drinking And Smoking
Arcidiacono, P., Sieg, H., & Sloan, F. A. (2007) · International Economic Review · doi:10.1111/j.1468-2354.2007.00417.x · Cited by 140
Financial Incentives and Student Achievement: Evidence from Randomized Trials
Fryer, R. G. (2010) · National Bureau of Economic Research · doi:10.3386/w15898 · Cited by 127
Functional neuroimaging of intertemporal choice models: a review
Carter, R. M., Meyer, J. R., & Huettel, S. A. (2010) · Journal of Neuroscience Psychology and Economics · doi:10.1037/a0018046 · Cited by 124
Lo, A. W. (2008) · Palgrave Macmillan UK eBooks · doi:10.1057/978-1-349-95121-5_42-2 · Cited by 130
On the Divergent American Reactions to Terrorism and Climate ChangePreprint
Sunstein, C. R. (2006) · SSRN Electronic Journal · doi:10.2139/ssrn.901217 · Cited by 126
Modeling the interplay between affect and deliberation.
Loewenstein, G. F., O’Donoghue, T., & Bhatia, S. (2015) · Decision · doi:10.1037/dec0000029 · Cited by 135
Recent Advances in the Economics of Individual Subjective Well-Being
Stutzer, A., & Frey, B. S. (2010) · Social research · doi:10.1353/sor.2010.0055 · Cited by 125
Evolution of Time Preferences and Attitudes toward Risk
Netzer, N. (2009) · American Economic Review · doi:10.1257/aer.99.3.937 · Cited by 118
The Economics of Risky Health Behaviors
Cawley, J., & Ruhm, C. J. (2011) · Handbook of health economics · doi:10.1016/b978-0-444-53592-4.00003-7 · Cited by 465
The neural circuitry of reward and its relevance to psychiatric disorders
Chau, D. T., Roth, R. M., & Green, A. I. (2004) · Current Psychiatry Reports · doi:10.1007/s11920-004-0026-8 · Cited by 123
Age differences in temporal discounting: The role of dispositional affect and anticipated emotions.
Löckenhoff, C. E., O’Donoghue, T., & Dunning, D. A. (2011) · Psychology and Aging · doi:10.1037/a0023280 · Cited by 124
Estimating Discount Functions with Consumption Choices over the Lifecycle
Laibson, D., Lee, S. C., Maxted, P., Repetto, A., & Tobacman, J. (2024) · Review of Financial Studies · doi:10.1093/rfs/hhae035 · Cited by 123
Self-citationRead, D. (2004) · doi:10.1002/9780470752937.ch21 · Cited by 123
Bushong, B., Rabin, M., & Schwartzstein, J. (2020) · The Review of Economic Studies · doi:10.1093/restud/rdaa055 · Cited by 126
Yong, J. (2015) · Transactions of the American Mathematical Society · doi:10.1090/tran/6502 · Cited by 122
Minimum payments and debt paydown in consumer credit cards
Keys, B. J., & Wang, J. (2018) · Journal of Financial Economics · doi:10.1016/j.jfineco.2018.09.009 · Cited by 122
The science of experimental economics
Croson, R. T. A., & Gächter, S. (2009) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2009.09.008 · Cited by 125
Behavioral Economics of Education: Progress and PossibilitiesPreprint
Lavecchia, A., Liu, H., & Oreopoulos, P. (2015) · SSRN Electronic Journal · doi:10.2139/ssrn.2568069 · Cited by 123
Principles of (Behavioral) Economics
Laibson, D., & List, J. A. (2015) · American Economic Review · doi:10.1257/aer.p20151047 · Cited by 131
Self-citationHardisty, D. J., Appelt, K. C., & Weber, E. U. (2012) · Journal of Behavioral Decision Making · doi:10.1002/bdm.1771 · Cited by 143
Carroll, C. D. (2000) · American Economic Review · doi:10.1257/aer.90.2.110 · Cited by 121
Parenting with Style: Altruism and Paternalism in Intergenerational Preference TransmissionPreprint
Doepke, M., & Zilibotti, F. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2197917 · Cited by 119
MacKillop, J. (2012) · Journal of the Experimental Analysis of Behavior · doi:10.1002/jeab.4 · Cited by 120
The behavioral economics of will in recovery from addiction
Monterosso, J. R., & Ainslie, G. W. (2006) · Drug and Alcohol Dependence · doi:10.1016/j.drugalcdep.2006.09.004 · Cited by 122
Covering the Uninsured in the United States
B, J. G. A. (2008) · Journal of Economic Literature · doi:10.1257/jel.46.3.571 · Cited by 119
Public goods in relation to competition, cooperation, and spite
Levin, S. A. (2014) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1400830111 · Cited by 123
Neuroeconomics and aging: Neuromodulation of economic decision making in old age
Mohr, P. N. C., Li, S., & Heekeren, H. R. (2009) · Neuroscience & Biobehavioral Reviews · doi:10.1016/j.neubiorev.2009.05.010 · Cited by 119
FinTech Lending and Bank Credit Access for Consumers
Balyuk, T. (2016) · Management Science · doi:10.1287/mnsc.2022.4319 · Cited by 200
B2C cross-border E-commerce logistics mode selection considering product returns
Wang, X., Xie, J., & Fan, Z. (2020) · International Journal of Production Research · doi:10.1080/00207543.2020.1752949 · Cited by 118
DELAY‐AMOUNT TRADEOFFS IN CHOICES BY PIGEONS AND RATS: HYPERBOLIC VERSUS EXPONENTIAL DISCOUNTING
Mazur, J., & Biondi, D. R. (2009) · Journal of the Experimental Analysis of Behavior · doi:10.1901/jeab.2009.91-197 · Cited by 118
Neuroeconomic Studies of Impulsivity: Now or Just as Soon as Possible?
Glimcher, P. W., Kable, J. W., & Louie, K. (2007) · American Economic Review · doi:10.1257/aer.97.2.142 · Cited by 118
Conscientiousness, Financial Literacy, and Asset Accumulation of Young Adults
Letkiewicz, J., & Fox, J. J. (2014) · Journal of Consumer Affairs · doi:10.1111/joca.12040 · Cited by 127
An Approach to Incorporating Psychology into Economics
Rabin, M. (2013) · American Economic Review · doi:10.1257/aer.103.3.617 · Cited by 117
The Behavioral Genetics of Behavioral Anomalies
Cesarini, D. A., Johannesson, M., Magnusson, P. K. E., & Wallace, B. (2011) · Management Science · doi:10.1287/mnsc.1110.1329 · Cited by 120
Rationalizing hyperbolic discounting
Azfar, O. (1999) · Journal of Economic Behavior & Organization · doi:10.1016/s0167-2681(99)00009-8 · Cited by 117
Payday loans and consumer financial health
Bhutta, N. (2014) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2014.04.024 · Cited by 116
Friede, G. (2019) · Business Strategy and the Environment · doi:10.1002/bse.2346 · Cited by 148
Inside Job or Deep Impact? Extramural Citations and the Influence of Economic Scholarship
Angrist, J. D., Azoulay, P., Ellison, G., Hill, R., & Lu, S. F. (2020) · Journal of Economic Literature · doi:10.1257/jel.20181508 · Cited by 126
The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, G., & Violante, G. L. (2022) · Annual Review of Economics · doi:10.1146/annurev-economics-080217-053444 · Cited by 116
Revising Commitments: Field Evidence on the Adjustment of Prior Choices
Xavier Giné, A., Goldberg, J., Silverman, D. P., & Yang, D. (2016) · The Economic Journal · doi:10.1111/ecoj.12378 · Cited by 116
Reducing debt improves psychological functioning and changes decision-making in the poor
Ong, Q., Theseira, W., & Ng, I. Y. H. (2019) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1810901116 · Cited by 154
Domain-specific temporal discounting and temptation
Tsukayama, E., & Duckworth, A. L. (2010) · Judgment and Decision Making · doi:10.1017/s1930297500000930 · Cited by 113
Intertemporal Tradeoffs for Gains and Losses: An Experimental Measurement of Discounted Utility
Abdellaoui, M., Attema, A. E., & Bleichrodt, H. (2009) · The Economic Journal · doi:10.1111/j.1468-0297.2009.02308.x · Cited by 111
Resisting Everything except Temptation: Evidence and an Explanation for Domain–specific Impulsivity
Tsukayama, E., Duckworth, A. L., & Kim, B. Y. S. (2011) · European Journal of Personality · doi:10.1002/per.841 · Cited by 114
Crawford, I., Keen, M., & Smith, S. (2010) · Cited by 115
Simultaneous Estimation of Risk and Time Preferences among Small‐scale Cattle Farmers in West Africa
Liebenehm, S., & Waibel, H. (2014) · American Journal of Agricultural Economics · doi:10.1093/ajae/aau056 · Cited by 123
Procrastination and the Extended Will
Heath, J., & Anderson, J. H. (2010) · Oxford University Press eBooks · doi:10.1093/acprof:oso/9780195376685.003.0014 · Cited by 114
The Shape of Temptation: Implications for the Economic Lives of the PoorPreprint
Banerjee, A., & Mullainathan, S. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1598547 · Cited by 454
Consumer Financial Behavior: An Interdisciplinary Review of Selected Theories and Research
Xiao, J. J., Ford, M. W., & Kim, J. (2011) · Family and Consumer Sciences Research Journal · doi:10.1111/j.1552-3934.2011.02078.x · Cited by 120
An introduction to hypergeometric functions for economists
Abadir, K. M. (1999) · Econometric Reviews · doi:10.1080/07474939908800447 · Cited by 111
Time-Tradeoff Sequences for Analyzing Discounting and Time Inconsistency
Attema, A. E., Bleichrodt, H., Rohde, K. I. M., & Wakker, P. P. (2010) · Management Science · doi:10.1287/mnsc.1100.1219 · Cited by 113
Altmann, S., & Traxler, C. (2014) · European Economic Review · doi:10.1016/j.euroecorev.2014.07.007 · Cited by 113
Multiple Forms of Value Learning and the Function of Dopamine
Balleine, B. W., Daw, N. D., & O’Doherty, J. P. (2009) · Elsevier eBooks · doi:10.1016/b978-0-12-374176-9.00024-5 · Cited by 119
An Axiomatic Model of Non-Bayesian Updating
Epstein, L. G. (2006) · The Review of Economic Studies · doi:10.1111/j.1467-937x.2006.00381.x · Cited by 113
Making index insurance attractive to farmers
Patt, A., Peterson, N. D., Carter, M. R., Vélez, M. A., Hess, U., & Suárez, P. (2009) · Mitigation and Adaptation Strategies for Global Change · doi:10.1007/s11027-009-9196-3 · Cited by 122
Gifford, A. (2002) · Journal of Economic Behavior & Organization · doi:10.1016/s0167-2681(02)00061-6 · Cited by 112
Rustichini, A., DeYoung, C. G., Anderson, J. E., & Burks, S. V. (2016) · Journal of Behavioral and Experimental Economics · doi:10.1016/j.socec.2016.04.019 · Cited by 116
Making the implicit explicit: A look inside the implicit discount rate
Schleich, J. E., Gassmann, X., Faure, C., & Meißner, T. (2016) · Energy Policy · doi:10.1016/j.enpol.2016.07.044 · Cited by 126
Tufano, P. (2009) · Annual Review of Financial Economics · doi:10.1146/annurev.financial.050808.114457 · Cited by 111
Do Welfare Asset Limits Affect Household Saving? Evidence from Welfare Reform
Hurst, E. G., & Ziliak, J. P. (2004) · National Bureau of Economic Research · doi:10.3386/w10487 · Cited by 112
Wealth Accumulation and the Propensity to Plan
Ameriks, J., Caplin, A., & Leahy, J. V. (2002) · National Bureau of Economic Research · doi:10.3386/w8920 · Cited by 112
Discounting in judgments of delay and probability
Rachlin, H. C., Brown, J. C., & Cross, D. V. (2000) · Journal of Behavioral Decision Making · doi:10.1002/(sici)1099-0771(200004/06)13:2 · Cited by 104
Avoiding the Curves: Direct Elicitation of Time Preferences
Laury, S. K., McInnes, M. M., Swarthout, J. T., & Nessen, E. V. (2011) · Journal of Risk and Uncertainty · doi:10.1007/s11166-012-9144-6 · Cited by 111
Community trust reduces myopic decisions of low-income individuals
Jachimowicz, J., Chafik, S., Munrat, S., Prabhu, J. C., & Weber, E. U. (2017) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1617395114 · Cited by 111
Non-hyperbolic time inconsistency
Han Bleichrodt, A., Rohde, K. I. M., & Wakker, P. P. (2008) · Games and Economic Behavior · doi:10.1016/j.geb.2008.05.007 · Cited by 111
Stock Market Wealth and Consumer Spending
Starr‐McCluer, M. (2002) · Economic Inquiry · doi:10.1093/ei/40.1.69 · Cited by 111
Nudging citizens? Prospects and pitfalls confronting a new heuristic
Moseley, A., & Stoker, G. (2013) · Resources Conservation and Recycling · doi:10.1016/j.resconrec.2013.04.008 · Cited by 119
The Contribution of Behavioral Economics to Political Science
Wilson, R. K. (2011) · Annual Review of Political Science · doi:10.1146/annurev-polisci-041309-114513 · Cited by 113
When Commitment Fails: Evidence from a Field Experiment
John, A. (2020) · Management Sciences · doi:10.1287/mnsc.2018.3236 · Cited by 34
Houses as ATMs: Mortgage Refinancing and Macroeconomic Uncertainty
Chen, H., Michaux, M., & Roussanov, N. L. (2019) · The Journal of Finance · doi:10.1111/jofi.12842 · Cited by 110
Bernheim, B. D., & Taubinsky, D. (2018) · National Bureau of Economic Research · doi:10.3386/w24828 · Cited by 107
Household decision making in rural China: Using experiments to estimate the influences of spouses
Carlsson, F., He, H., Martinsson, P., Qin, P., & Sutter, M. (2012) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2012.08.010 · Cited by 113
Alesina, A., & Passarelli, F. (2019) · American Journal of Political Science · doi:10.1111/ajps.12440 · Cited by 114
I Think They're Trying to Tell Me Something: Advice Sources and Selection for Digital Security
Redmiles, E. M., Malone, A. R., & Mazurek, M. L. (2016) · IEEE Symposium on Security and Privacy (S&P) · doi:10.1109/sp.2016.24 · Cited by 120
Changing Behavior Using the Health Action Process Approach
Schwarzer, R., & Hamilton, K. (2020) · Cambridge University Press eBooks · doi:10.1017/9781108677318.007 · Cited by 114
Chew, S. H., Huang, W., & Zhao, X. (2020) · Journal of Political Economy · doi:10.1086/709971 · Cited by 113
Losses, gains, and brains: Neuroeconomics can help to answer open questions about loss aversion
Rick, S. I. (2010) · Journal of Consumer Psychology · doi:10.1016/j.jcps.2010.04.004 · Cited by 113
Non-parametric test of time consistency: Present bias and future bias
Takeuchi, K. (2010) · Games and Economic Behavior · doi:10.1016/j.geb.2010.05.005 · Cited by 113
Credit use: Psychological perspectives on a multifaceted phenomenon
Kamleitner, B., Hoelzl, E., & Kirchler, E. M. (2011) · International Journal of Psychology · doi:10.1080/00207594.2011.628674 · Cited by 108
The Effects of Usury Laws: Evidence from the Online Loan Market
Rigbi, O. (2012) · The Review of Economics and Statistics · doi:10.1162/rest_a_00310 · Cited by 108
Search predicts and changes patience in intertemporal choice
Reeck, C., Wall, D., & Johnson, E. J. (2017) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1707040114 · Cited by 108
Revealed strength of preference: Inference from response times
Konovalov, A., & Krajbich, I. M. (2019) · Judgment and Decision Making · doi:10.1017/s1930297500006082 · Cited by 123
Rationality of Choices in Subsidized Crop Insurance Markets
Du, X., Feng, H., & Hennessy, D. A. (2016) · American Journal of Agricultural Economics · doi:10.1093/ajae/aaw035 · Cited by 118
Lillemo, S. C. (2014) · Energy Policy · doi:10.1016/j.enpol.2013.10.077 · Cited by 106
Franck, C. T., Koffarnus, M. N., House, L., & Bickel, W. K. (2014) · Journal of the Experimental Analysis of Behavior · doi:10.1002/jeab.128 · Cited by 108
Are We Finally Winning the War on Cancer?
Cutler, D. (2008) · The Journal of Economic Perspectives · doi:10.1257/jep.22.4.3 · Cited by 107
Using Insights from Behavioral Economics to Mitigate the Spread of COVID-19
Soofi, M., Najafi, F., & Matin, B. K. (2020) · Applied Health Economics and Health Policy · doi:10.1007/s40258-020-00595-4 · Cited by 115
Well-posedness and regularity of backward stochastic Volterra integral equations
Yong, J. (2007) · Probability Theory and Related Fields · doi:10.1007/s00440-007-0098-6 · Cited by 107
Metadata
- Authors
- Laibson, D.
- Affiliations
- Harvard University (US)
- Corresponding author
- Laibson, D.
- ORCID
- Laibson, D.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1997-05-01
- Volume
- 112
- Issue
- 2
- Pages
- 443-478
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2118052532
- Cited by
- 6,122
- References
- 33
- Citations by year
- 2026: 239 · 2025: 252 · 2024: 239 · 2023: 258 · 2022: 243 · 2021: 274 · 2020: 394 · 2019: 332 · 2018: 317 · 2017: 290 · 2016: 323 · 2015: 327 · 2014: 313 · 2013: 280 · 2012: 253
- FWCI
- 21.62
- Type
- journal article
- Language
- en
- Open access
- green
- nrs.harvard.edu
- Licence
- cc-by
- Locations
- The Quarterly Journal of Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Digital Access to Scholarship at Harvard (DASH) (Harvard University) (submittedVersion, cc-by)
- HighWire Press Open Archive (submittedVersion)
- Funders
- National Science Foundation (9510985)
- Alfred P. Sloan Foundation
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic theories and models
- Keywords
- hyperbolic discounting, time inconsistency, imperfect commitment, illiquid assets, consumption smoothing, marginal propensity to consume, financial innovation, savings rate, liquidity
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
