@TechReport{iza:izadps:dp1430,
            	author={Huffman, David B. and Barenstein, Matias},
            	title={Riches to Rags Every Month? The Fall in Consumption Expenditures Between Paydays},
            	year={2004},
	month={Dec},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={1430},
            	url={https://www.iza.org/publications/dp1430},
	abstract={This paper finds declining consumption expenditure between paydays, for a typical household in the working population of the UK. The magnitude is inconsistent with exponential time preference, but compatible with quasi-hyperbolic discounting. However, the hyperbolic model predicts that credit constraints drive the decline, and we find only mixed evidence in this regard. We also observe a method-of-payment result that suggests a role for mental accounting: households choose declining cash spending but flat credit-card spending over the pay period. We propose an alternative explanation for the results, based on cognitive costs of budgeting and perceptual biases, rather than self-control problems.},
	keywords={consumption;hyperbolic-discounting;mental accounting;payday;reference-dependent preferences;credit cards},
            }