Proceedings of the 2022 6th International Seminar on Education, Management and Social Sciences (ISEMSS 2022)

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Exploring the Positive Impact of Reducing Present Bias has on People’s Poverty Level in India

Authors
Manhua Chen1, *
1Department of Economic and Department of Political Science, University of Washington, Seattle, USA
*Corresponding author. Email: manhuac@uw.edu
Corresponding Author
Manhua Chen
Available Online 29 December 2022.
DOI
10.2991/978-2-494069-31-2_18How to use a DOI?
Keywords
Present Bias; Poverty Level; India; Saving; Education
Abstract

Saving has always been a problem in India, especially for poor households, and they face many obstacles when it comes to savings, such as a lack of ways to safe, expensive banking account fees, and self-control problems. This paper is going to explore the positive impact of reducing present bias on people’s poverty levels in India. Present bias is a time-inconsistent problem in which even when the poor have extra money they choose immediate rewards instead of saving it. It is crucial to fully understand present bias in order to help poor Indians to save. Analyzing the impact present bias has on saving, lack of investment, and low level of education is crucial to help us to understand the mental activity of poor people and the reason behind not choosing to save, thus, we can better help them to reduce present bias. This paper analyzed ten articles about present bias found in Google Academic Scholar Research Library and explained the relationship between present bias and people’s poverty level in India. The results show that reducing present bias and solving self-control problems were more cost-effective to help the poor save; thus, potentially reducing poverty.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 6th International Seminar on Education, Management and Social Sciences (ISEMSS 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
29 December 2022
ISBN
10.2991/978-2-494069-31-2_18
ISSN
2352-5398
DOI
10.2991/978-2-494069-31-2_18How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Manhua Chen
PY  - 2022
DA  - 2022/12/29
TI  - Exploring the Positive Impact of Reducing Present Bias has on People’s Poverty Level in India
BT  - Proceedings of the 2022 6th International Seminar on Education, Management and Social Sciences (ISEMSS 2022)
PB  - Atlantis Press
SP  - 146
EP  - 152
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-31-2_18
DO  - 10.2991/978-2-494069-31-2_18
ID  - Chen2022
ER  -