Time preference and saving behavior in teenagers

Abstract

This study investigates the factors influencing saving behavior among adolescents in Chiang Rai, Thailand. The results reveal that present preferences have a negative effect on both the probability and the amount of savings. Academic achievement (GPA), personal income, and household income are crucial in determining saving likelihood and the amounts. While risk and ambiguity attitudes do not significantly impact adolescents' saving behavior. While risk-averse attitudes decrease the likelihood of saving, they do not affect the actual amount saved. Ambiguity-averse attitudes have no influence on saving behavior.