Are the Smart Kids More Rational ?
AbstractWe conducted an experiment to collect data on consumption decisions made by children of different age categories. In particular, our experiment involves unsophisticated discrete consumption choices,and we present a rationality test that is specially designed for the resulting choice data. Our firstconclusion is that, in general, the observed children's consumption behavior is largely irrational. Next, we also investigate the relationship between the degree of rationality and the children's characteristics.Specically, we use teacher based assessments on several personal characteristics to investigate whether and to what extent smart children tend to behave more rational. Here, our main conclusion is that it is important to recognize the multidimensional nature of intelligence to obtain a balanced insight into the effect of intelligence on rationality.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers ECARES with number ECARES 2012-050.
Length: 15 p.
Date of creation: Dec 2012
Date of revision:
Publication status: Published by:
rationality; children; revealed-preference; intelligence;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-07 (All new papers)
- NEP-CBE-2013-01-07 (Cognitive & Behavioural Economics)
- NEP-DEM-2013-01-07 (Demographic Economics)
- NEP-EVO-2013-01-07 (Evolutionary Economics)
- NEP-EXP-2013-01-07 (Experimental Economics)
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