MEASURING SELF-CONTROL PROBLEMS: A STRUCTURAL ESTIMATION
采用两阶段模拟矩方法估计生命周期消费储蓄模型中诱惑厌恶的偏好参数，发现存在小但显著的正向诱惑程度，该模型能更好拟合美国消费者金融调查中流动与非流动资产的持有数据。
We adopt a two-stage Method of Simulated Moments to estimate the preference parameters in a life-cycle consumption-saving model augmented with temptation disutility. Our approach estimates the parameters from the comparison between simulated moments with empirical moments observed in the US Survey of Consumer Finances; to identify the parameters we consider moments from liquid and illiquid asset holdings at different ages. We find evidence of a small but significantly positive degree of temptation. The temptation model predicts consumption choices similar to the model with standard preferences, and holdings of liquid and illiquid assets closer to those observed in the empirical data.