# **<u>Appendix Table 4:</u> Bounds on bias due to selection into revisit sample**

Ordinary least-squares regressions <u>Dependent variable: Change in sooner allocation upon revisiting (MK), with missing values replaced</u>

|<br>|<br>(1)|<br>(2)|<br>(3)|(4)|(5)|(6)|(7)|
|---|---|---|---|---|---|---|---|
|Assumed value of dep. var. is initial sooner allocation<br>(from baseline) plus:|600|400|200|0|-200|-400|-600|
|**Preferences under commitment**||||||||
|Fraction Present Biased, Non-Implemented Interest Rates|128.167*|128.883*|130.469*|132.055*|132.728*|133.421*|134.957*|
||(77.442)|(76.090)|(75.361)|(75.287)|(75.596)|(76.359)|(77.430)|
|Fraction of all tokens allocated to "sooner"|-436.945**|-436.561**|-440.802**|-445.044**|-477.131**|-509.346**|-536.364**|
||(211.300)|(208.731)|(207.571)|(208.102)|(208.913)|(211.017)|(214.267)|
|Indicator: days to first disbursement (targeted) <=6|186.583***|163.094***|139.984***|116.874**|98.301**|81.699*|65.853|
||(47.515)|(46.559)|(46.109)|(46.186)|(46.628)|(47.459)|(48.625)|
|**Financial sophistication**||||||||
|Fraction of Decisions Consistent with Law of Demand<br>|-34.842|-44.799|-52.448|-60.096|-57.933|-51.484|-46.324|
||(164.039)|(161.676)|(160.420)|(160.504)|(161.691)|(164.079)|(167.401)|
|Words recalled|2.475|0.497|-2.120|-4.736|-7.451|-9.697|-11.989|
||(18.397)|(18.026)|(17.766)|(17.660)|(17.688)|(17.843)|(18.108)|
|Raven's Tests Correct|-24.665|-21.867|-19.092|-16.317|-12.267|-9.746|-7.343|
||(27.296)|(26.848)|(26.575)|(26.538)|(26.712)|(27.022)|(27.505)|
|Financial Literacy Questions Correct|16.160|17.605|19.945|22.284|22.590|21.876|20.373|
||(26.525)|(26.054)|(25.787)|(25.790)|(26.020)|(26.435)|(27.025)|
|**Socialpressure**||||||||
|Spouse minus own allocation to sooner (MK)|0.051|0.051|0.049|0.048|0.044|0.040|0.039|
||(0.076)|(0.074)|(0.073)|(0.073)|(0.074)|(0.075)|(0.077)|
|Number of relatives in the village|1.077|1.176|1.309|1.443|1.727|1.992|2.206|
||(3.026)|(2.975)|(2.963)|(2.990)|(3.053)|(3.133)|(3.231)|
|**Rate of return to waiting**||||||||
|Implemented interest rate {.1,.25,.5,.75,1}<br>|-230.269***|-221.468***|-213.910***|-206.353***|-197.841***|-189.933**|-182.470**|
||(75.891)|(74.982)|(74.545)|(74.726)|(75.285)|(76.167)|(77.380)|
|**Baseline characteristics**||||||||
|Male|35.006|41.182|47.175|53.169|58.183|63.646|69.313|
||(57.670)|(56.390)|(55.689)|(55.604)|(55.820)|(56.473)|(57.536)|
|Age 35 or under|215.170**|225.589**|238.516**|251.442**|265.987***|276.074***|285.344***|
||(104.801)|(103.398)|(102.580)|(102.463)|(102.939)|(103.902)|(105.434)|
|36-56 yrs old|172.320***|164.944***|157.798***|150.651**|147.654**|146.538**|146.049**|
||(62.679)|(61.184)|(60.220)|(59.832)|(59.985)|(60.639)|(61.785)|
|Some primary school|-8.462|-15.371|-22.003|-28.635|-34.033|-37.969|-40.672|
||(69.275)|(68.528)|(68.173)|(68.248)|(68.546)|(69.273)|(70.425)|
|Primary school|-69.299|-81.755|-95.003|-108.252|-115.371|-119.645|-123.560|
||(88.697)|(87.037)|(86.084)|(85.977)|(86.414)|(87.382)|(88.978)|
|More than primary school|-94.619|-106.603|-118.530|-130.457|-136.848|-139.054|-138.669|
||(114.071)|(113.232)|(112.962)|(113.335)|(114.121)|(115.183)|(116.411)|
|Have adequate maize|3.870|3.828|3.763|3.697|3.400|3.178|3.063|
||(53.182)|(52.068)|(51.414)|(51.292)|(51.582)|(52.303)|(53.379)|
|Total HH Wealth|0.035|0.010|-0.014|-0.039|-0.065*|-0.092***|-0.101***|
||(0.044)|(0.040)|(0.037)|(0.035)|(0.034)|(0.034)|(0.038)|
|Controls for:||||||||
|Spousal characteristics<br>|Y|Y|Y|Y|Y|Y|Y|
|R-suared (adj)|00475|00439|00412|00387|00395|00411|00415|
|q .<br>N|.<br>722|.<br>722|.<br>722|.<br>722|.<br>722|.<br>722|.<br>722|

Significance levels: * 10%, ** 5%, *** 1%. Robust standard errors in parentheses. Notes: Dependent variable constrained to remain within 0 or 2000 range. Right-hand-side variables are identical to column 6, Table 6, except for omission of shock variables ("death in family" and "shortfall in expected household income"), because shock variables are not available for attriters. See Table 6 for other notes.