Cobb-Clark, Deborah A.; Kassenboehmer, Sonja C.; … - Institute for the Study of Labor (IZA) - 2013
This paper analyzes the relationship between individuals' locus of control and their savings behavior, i.e. wealth … accumulation, savings rates, and portfolio choices. Locus of control is a psychological concept that captures individuals' beliefs …-of-control gap in savings rates is largest among rich households, the gap in wealth accumulation is particularly large for poor …