06 December 2019

CEBI research forthcoming in the American Economic Review shows that patient people are wealthier

We document a strong association between patience and wealth inequality by linking experimental data from a large preference-elicitation experiment with administrative wealth records. Furthermore, by using historical survey measures of patience and detailed administrative data of wealth determinants, we establish a causal relationship from patience to wealth inequality, which most likely runs through differences in savings behavior in accordance with theory.

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