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Time-Inconsistency and Savings: Experimental Evidence from Low-income Tax Filers
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Jones, Damon
Mahajan, Aprajit
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Working Paper
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Center for Financial Security
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Abstract
This paper describes a pilot version of a field experiment designed to test theories of timeinconsistency (a model of quasi-hyperbolic discounting) in the context of a savings decision
made by low-income tax filers. By estimating the effect of impatience on savings decisions, the
results of the study can be used to improve the design of savings incentives for this population,
and evaluate the welfare effects of these savings programs
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Jones, D., & Mahajan, A. (2011). Time-Inconsistency and Savings: Experimental Evidence from Low-income Tax Filers. Center for Financial Security.