“…A persistent lack of income or financial assets to meet basic needs can exhaust one's cognitive ability to make efficient economic decisions (Mani et al., ; Gennetian & Shafir, ). This fosters psychological adaptive behavior, such as myopia in savings and investment (Strulik, ), risk aversion and depression (Haushofer & Fehr, ), and diminished aspirations for educational or professional achievement (Dalton, Ghosal, & Mani, ), which can then secondarily affect the attitudes and outcomes of members within a given household, including children (Dercon & Singh, ). These adaptive responses to economic stress can trigger long‐term poverty and inequality (Genicot & Ray, ; Gennetian & Shafir, ).…”