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Parental Investment and the Intergenerational Transmission of Economic Preferences and Attitudes

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Author Info

  • Maria Zumbuhl

    ()
    (Maastricht University)

  • Thomas Dohmen

    ()
    (University of Bonn)

  • Gerard Pfann

    ()
    (Maastricht University)

Abstract

We study empirically whether there is scope for parents to shape the economic preferences and attitudes of their children through purposeful investments. We exploit information on the risk and trust attitudes of parents and their children, as well as rich information about parental efforts in the upbringing of their children from the German Socio-Economic Panel Study. Our results show that parents who invest more in the upbringing of their children are more similar to them with respect to risk and trust attitudes and thus transmit their own attitudes more strongly. The results are robust to including variables on the relationship between children and parents, family size, and the parents’ socioeconomic background.

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File URL: http://humcap.uchicago.edu/RePEc/hka/wpaper/Zumbuhl_Dohmen_Pfann_2013_parental-investment.pdf
File Function: First version, June 2013
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Bibliographic Info

Paper provided by Human Capital and Economic Opportunity Working Group in its series Working Papers with number 2013-018.

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Date of creation: Nov 2013
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Handle: RePEc:hka:wpaper:2013-018

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Keywords: parental investments; risk preferences; trust; intergenerational transmission; cultural economics; family economics; social interactions;

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References

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  1. Alesina, Alberto F & La Ferrara, Eliana, 2000. "Who Trusts Others?," CEPR Discussion Papers 2646, C.E.P.R. Discussion Papers.
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  9. Alessandra Fogli & Raquel Fernandez, 2005. "Culture: An Empirical Investigation of Beliefs, Work, and Fertility," Working Papers 05-07, New York University, Leonard N. Stern School of Business, Department of Economics.
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Citations

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Cited by:
  1. Matthias Doepke & Fabrizio Zilibotti, 2013. "Culture, Entrepreneurship, and Growth," NBER Working Papers 19141, National Bureau of Economic Research, Inc.
  2. Doepke, Matthias & Zilibotti, Fabrizio, 2012. "Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission," IZA Discussion Papers 7108, Institute for the Study of Labor (IZA).
  3. Sule Alan & Nazli Baydar & Teodora Boneva & Thomas F. Crossley & Seda Ertac, 2013. "Parental Socialization Effort and the Intergenerational Transmission of Risk Preferences," Koç University-TUSIAD Economic Research Forum Working Papers 1313, Koc University-TUSIAD Economic Research Forum.

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