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来源类型Working Paper
规范类型报告
DOI10.3386/w28784
来源IDWorking Paper 28784
Temporal Instability of Risk Preference among the Poor: Evidence from Payday Cycles
Mika Akesaka; Peter Eibich; Chie Hanaoka; Hitoshi Shigeoka
发表日期2021-05-10
出版年2021
语种英语
摘要The poor live paycheck to paycheck and are repeatedly exposed to strong cyclical income fluctuations. We investigate whether such income fluctuations affect risk preference among the poor. If risk preference temporarily changes around payday, optimal decisions made before payday may no longer be optimal afterward, which could reinforce poverty. By exploiting Social Security payday cycles in the US, we find that risk preference among the poor relying heavily on Social Security changes around payday. Rather than cognitive decline before payday, the deterioration of mental health and relative deprivation may play a role. We find similar evidence among the Japanese elderly.
主题Microeconomics ; Economics of Information ; Behavioral Economics ; Health, Education, and Welfare ; Poverty and Wellbeing
URLhttps://www.nber.org/papers/w28784
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586458
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Mika Akesaka,Peter Eibich,Chie Hanaoka,et al. Temporal Instability of Risk Preference among the Poor: Evidence from Payday Cycles. 2021.
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