EXPONENTIAL-GROWTH BIAS AND LIFECYCLE CONSUMPTION
EXPONENTIAL-GROWTH BIAS AND LIFECYCLE CONSUMPTION
复制标题
DOI：
10.1111/jeea.12149
复制
发表时间：
2016-06-01
影响因子：
3.6
通讯作者：
Tasoff, Joshua
中科院分区：
文献类型：
--
作者：
Levy, Matthew;Tasoff, Joshua
Exponential- growth bias (EGB) is the tendency for individuals to partially neglect compounding of exponential growth. We develop a model wherein biased agents misperceive the intertemporal budget constraint, and derive conditions for overconsumption and dynamic inconsistency. We construct an incentivized measure of EGB in a US-representative population and find substantial bias, with approximately one third of subjects estimated as the fully biased type. The magnitude of the bias is negatively associated with asset accumulation, and does not respond to a simple graphical intervention.
