6 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.

Read more about the research here