Intergenerational transfer of time and risk preferences

Brown, Heather; Pol, Marjon van der

doi:10.1016/j.joep.2015.06.003

Cited by 54 publications

(32 citation statements)

References 25 publications

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“…2016) as well as psychological and motivational differences. These include payment scheme preferences (Dohmen and Falk, 2001), time preference (Brown and van der Pol, 2015), mortality risk (Hammitt, and Tuncel, 2015), risk preference (Booth and Katic, 2013;Rai and Kimmel, 2015). A survey of such articles [risk] are contained in Croson and Gneezy, 2009.…”

mentioning

confidence: 99%

Microfoundations of Earnings Differences

Das

Polachek

2019

The Palgrave Handbook of Economic Performance Analysis

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. This paper examines how human capital based approaches explain the distribution of earnings. It assesses traditional, quasi-experimental, and new micro-based structural models, the latter of which gets at population heterogeneity by estimating individualspecific earnings function parameters. The paper finds one's ability to learn and one's ability to retain knowledge are most influential in explaining earnings variations. Marketable skills actually acquired in school depend on these two types of ability. However, schools may also implement ability enhancing interventions which can play a role in improving learning outcomes. Policy initiatives that improve these abilities would be a possible strategy to increase earnings and lower earnings disparity. JEL Classification:I3, J3, J7

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confidence: 99%

Microfoundations of Earnings Differences

Das

Polachek

2019

The Palgrave Handbook of Economic Performance Analysis

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“…Finally, following Dohmen et al (2012), Bonin et al (2009), Brown et al (2015 amongst others, we explore whether there is a link between a parent's risk tolerance and the children's probability to migrate as a further robustness check. To do so we perform the regression:…”

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confidence: 99%

Risk attitudes and migration

Akgüç

Liu

Tani

et al. 2016

China Economic Review

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E S Risk Attitudes and MigrationIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author.

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“…Individuals develop consumer skills, knowledge, and attitudes by interacting with their parents (Danes and Haberman ; Moschis ). Consequently, we have witnessed intergenerational consensus between parents and their children in risk and time preference (Brown and van der Pol ), brand loyalty (Childers and Rao ), and consumer behavior and beliefs (Moore‐Shay and Jutz ). In this paper, we examine another domain of intergenerational influence—the degree to which financial behavior is passed down from parents to their children and how it occurs.…”

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confidence: 99%

Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?

Tang¹

2016

Journal of Consumer Affairs

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This paper investigates the intergenerational influence on financial behavior. Using two national longitudinal studies: the 1979 National Longitudinal Survey Children and Young Adults (NLSCYA) and the 1979 National Longitudinal Survey (NLSY79), we link the financial behavior of 2,520 young adults back to their general self‐control skill and their parents' financial behavior conducted during children's adolescence. We find evidence of intergenerational consistency in financial behavior between parents and their children. Results from the generalized structural equation model indicate that parents' financial behavior affects that of their children both directly and indirectly through general self‐control skill development. Furthermore, the influence of parents is moderated by parent–child relationship. These findings highlight the importance of parental financial socialization. Its implications are discussed.

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Intergenerational transfer of time and risk preferences

Cited by 54 publications

References 25 publications

Microfoundations of Earnings Differences

Microfoundations of Earnings Differences

Risk attitudes and migration

Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?

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