MPC Member Publications

This database contains a listing of population studies publications written by MPC Members. Anyone can add a publication by an MPC student, faculty, or staff member to this database; new citations will be reviewed and approved by MPC administrators.

Full Citation

Title: Predicting Retirement Savings Using Survey Measures of Exponential-Growth Bias and Present Bias

Citation Type: Journal Article

Publication Year: 2018

Abstract: In a nationally-representative sample, we predict retirement savings using survey- based elicitations of exponential-growth bias (EGB) and present bias (PB). We find that EGB, the tendency to neglect compounding, and PB, the tendency to value the present over the future, are highly significant and economically meaningful predictors of retirement savings. These relationships hold controlling for cognitive ability, financial literacy, and a rich set of demographic controls. We address measurement error as a potential confound and explore mechanisms through which these biases may operate. Back of the envelope calculations suggest that eliminating EGB and PB would increase retirement savings by approximately 12 percent.

Url: https://econpapers.repec.org/paper/hkawpaper/2018-059.htm

User Submitted?: No

Authors: Shah Goda, Gopi; Levy, Matthew; Flaherty Manchester, Colleen; Sojourner, Aaron J; Tasoff, Joshua

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IPUMS NHGIS NAPP IHIS ATUS Terrapop