Economics research seminar: Xueting Wang (RMIT University)

Xueting Wang (RMIT University)

Topic

Measurement of Self-Control (Deborah Cobb-Clark, Juliana Silva-Goncalves, Agnieszka Tymula, and Xueting Wang)  

abstract

Our research advances the measurement of self-control by exploring the relationship between behavioral (laboratory-based) and self-reported (survey-based) measures, conceptualizing self-control as a multi-dimensional construct. By bridging disciplinary and methodological boundaries, we aim to establish how traditional, incentive-compatible measures of self-control correspond to readily available survey-based measures. We introduce an innovative behavioral task to measure impulsivity in a laboratory experiment where participants allocate real effort across time, with opportunities to take breaks that may reduce payoffs. Impulsivity is captured through the speed of break decisions and the amount of prior information sought. By embedding this task in a controlled experiment and leveraging a rich set of psychometric scales, we separately identify the effects of impulsivity, attention, and trait self-control on effort allocation.  Our work extends the emerging literature that uses laboratory settings with structured economic incentives to examine the role of personality traits in decision-making. By combining lab- and survey-based measures, we address the challenge of separately identifying traits and behaviors in observational data, particularly when traits are multifaceted or interact to produce specific behaviors. This methodological advance contributes to creating an empirical foundation for more comprehensive theories of behavioral decision-making, enriching economics as a behavioral science.