Exploring the Positive Impact of Reducing Present Bias has on People’s Poverty Level in India
- 10.2991/978-2-494069-31-2_18How to use a DOI?
- Present Bias; Poverty Level; India; Saving; Education
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.
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Cite this article
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 -