The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings

There is considerable variation in retirement savings within income, age, and educational categories. Using a broad sample of the U.S. population, we elicit time preference parameters from a quasi-hyperbolic discounting model, and perceptions of exponential growth. We find that present bias (PB),

在收入、年龄及受教育程度分类中，退休储蓄水平存在显著差异。本研究以美国人口的大范围抽样样本为基础，从准双曲贴现（quasi-hyperbolic discounting）模型中测算得到时间偏好参数，并获取了受访者对指数增长的认知情况。研究发现，现时偏差（present bias, PB）