Measuring Self-Control

38 Pages Posted: 3 Jun 2004 Last revised: 25 Sep 2022

See all articles by John Ameriks

John Ameriks

The Vanguard Group, Inc.

Andrew Caplin

New York University (NYU) - Department of Economics; National Bureau of Economic Research (NBER)

John V. Leahy

New York University (NYU) - Department of Economics; National Bureau of Economic Research (NBER)

Tom Tyler

Yale University - Law School

Date Written: May 2004

Abstract

How significant are individual differences in self-control? Do these differences impact wealth accumulation? From where do they derive? Our survey-based measure of self-control provides insights into all three questions: 1.There are individual differences in self-control not only of a quantitative but also of a qualitative nature. In our sample, standard self-control problems of over-consumption are no more prevalent than are problems of under-consumption. 2.Standard self-control problems do impede wealth accumulation, particularly in liquid form. Problems of under-consumption have the opposite effects. 3.Self-control is linked to conscientiousness' much studied by psychologists. There is a related link with financial planning.

Suggested Citation

Ameriks, John and Caplin, Andrew and Leahy, John V. and Tyler, Tom, Measuring Self-Control (May 2004). NBER Working Paper No. w10514, Available at SSRN: https://ssrn.com/abstract=552309

John Ameriks

The Vanguard Group, Inc. ( email )

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Andrew Caplin (Contact Author)

New York University (NYU) - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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John V. Leahy

New York University (NYU) - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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Tom Tyler

Yale University - Law School ( email )

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