Quick-Fixing: Near-Rationality in Consumption and Savings Behavior

We thank Alexandre Kohlhas, Morten Ravn, and Matthew Rognlie for excellent discussions which helped improve the paper. We are grateful to Kai Barron, John Becko, Corina Boar, Jonathon Hazell, Christopher House, David Laibson, Chen Lian, Lukas Nord, Ryan Oprea, Michael Peters, Oliver Pfäuti, Laura Pilossoph, Charlie Rafkin, Chris Roth, Tony Smith, Matthew White, Johannes Wohlfart, Michael Woodford, Chris Wolf, and seminar participants at the New York Fed, the University of Connecticut, the LAEF Workshop, CREI, Oxford, the Wadham State of the Nation Conference, Cambridge, the Philadelphia Fed, Princeton, Columbia, the 2024 Winter SED Meeting, the 2025 Spring NBER Monetary Economics Meeting, the University of Chicago, Carnegie-Mellon, the University of Rochester, the University of Michigan, the IZA Beliefs Workshop, the CIGS Conference on Macroeconomic Theory and Policy, the Bank of Portugal Conference on Monetary Economics, the Bank of Canada Behavioral Macro Workshop, and the 2025 NBER Summer Institute. First posted version: October 25, 2024. Ethics approval: The study obtained ethics approval from the Princeton University Institutional Review Board (#15968). Preregistration: The main data collections were preregistered via OSF (https://osf.io/sgw9y/registrations). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• February 4, 2025
• September 8, 2025