Replication data for: Poverty and Economic Decision-Making: Evidence from Changes in Financial Resources at Payday
Principal Investigator(s): View help for Principal Investigator(s) Leandro S. Carvalho; Stephan Meier; Stephanie W. Wang
Version: View help for Version V1
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Project Description
Summary:
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We study the effect of financial resources on decision-making. Low-income US households are randomly assigned to receive an online survey before or after payday. The survey collects measures of cognitive function and administers risk and intertemporal choice tasks. The study design generates variation in cash, checking and savings balances, and expenditures. Before-payday participants behave as if they are more present-biased when making intertemporal choices about monetary rewards but not when making intertemporal choices about nonmonetary real-effort tasks. Nor do we find before-after differences in risk-taking, the quality of decision-making, the performance in cognitive function tasks, or in heuristic judgments. (JEL C83, D14, D81, D91, I32)
Scope of Project
JEL Classification:
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C83 Survey Methods; Sampling Methods
D14 Household Saving; Personal Finance
D81 Criteria for Decision-Making under Risk and Uncertainty
D15 Intertemporal Household Choice; Life Cycle Models and Saving
I32 Measurement and Analysis of Poverty
C83 Survey Methods; Sampling Methods
D14 Household Saving; Personal Finance
D81 Criteria for Decision-Making under Risk and Uncertainty
D15 Intertemporal Household Choice; Life Cycle Models and Saving
I32 Measurement and Analysis of Poverty
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