Out of (their) Control: Fatalists, Eort, and Savings Behavior

摘要: We develop a model that examines the impact of fatalism, be- lief one has little or no control over future events, on decision whether not to save. The theory predicts fatalism decreases eort in learning about best terms for investment and savings options moderately risk averse individuals. use data from 2004 Survey Consumer Finances (SCF) 2000 World Values (WVS) …nd general support theoretical predictions model. SCF respondents who feel luck played an important role their …nancial aairs are less likely shop around when making major decisions saving, investing, borrowing. eect actual rates depends preferences, as predicted by For survey both WVS, there is re- lationship between saving loving neutral individuals, but negatively related results robust inclusion number additional variables.