Tax Refunds and Savings Behavior: Developing Soft-Commitment Opportunities

描述（由申请人提供）：劳动收入抵免和儿童税收抵免是重要的收入支持计划，相当于许多低收入和中等收入家庭三个多月的正常工资。这些抵免通常通过年度退税获得。届时，接受者将面临一系列选择，包括将退款存入美国国债等储蓄工具或相应的储蓄账户。本项目旨在阐明这一储蓄决定，并改善中低收入家庭的福利。特别是，我们将测试申报人是否有兴趣提前做出节省退税的承诺。”这项软承诺研究将允许对自我控制问题、不耐烦和双曲贴现行为进行正式测试。首先，通过提供不同数量的即时和延迟储蓄激励，我们将衡量即时满足与延迟满足的相对价值，进而衡量目标人群中存在的不耐烦程度。其次，通过让报税人有机会提前做出承诺，我们将估计出个人对自己未来的不耐烦和抑制自我控制问题的愿望的意识程度。研究结果可以为所得税退税产品提供信息，这些产品利用承诺装置来克服储蓄障碍。

DESCRIPTION (provided by applicant): The Earned Income Credit and Child Tax Credit are vital income support programs, amounting to over three months of regular pay for many low and moderate-income families. These credits are generally received through the annual tax refund. At that time, recipients are faced with a menu of options that include placing the refund in a savings vehicle such as a Treasury bond or matched savings account. This project aims to cast light on this savings decision and improve the welfare of low and moderate- income families. In particular, we will test whether tax filers are interested in making a commitment ahead of time to saving the refund. This soft-commitment study will allow formal tests for self-control problems, impatience, and hyperbolic discounting behavior. First, by offering varying amounts of instant and delayed savings incentives, we will measure the relative value placed on immediate versus delayed gratification, and by extension, the degree of impatience present in the target population. Second, by allowing tax filers the opportunity to pre-commit, we will estimate the degree to which individuals are aware of their future impatience and desire to curb self-control problems. The results may inform income tax refund-based products that leverage commitment devices to overcome barriers to saving.