Ghosal, Sayantan (contributor); Mani, Anandi (contributor) - 2011
We develop a theoretical framework to study the psychology of poverty and 'aspirations failure'. In our framework, the … imposed by poverty exacerbates the effects of this behavioral bias: the poor are more susceptible to both an aspirations … failure and pessimism about the likelihood of achieving success. Poverty limits the set of people whose life experiences the …