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Quasi-Hyperbolic Time Preferences and their Intergenerational Transmission

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  • Kosse, Fabian

    ()
    (University of Bonn)

  • Pfeiffer, Friedhelm

    ()
    (ZEW Mannheim)

Abstract

This study explores the intergenerational transmission of time preferences and focuses on the question which specific aspects of mother's time preference are related to her preschool child's ability to delay gratification. We provide a new procedure for assessing the parameters of a "quasi-hyperbolic" discount function (Laibson, 1997) using two trade-off experiments. We apply the procedure to a sample of 213 mother-child pairs and show that especially mother's beta parameter is related to her preschool child's ability to delay gratification.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7221.

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Length: 10 pages
Date of creation: Feb 2013
Date of revision:
Handle: RePEc:iza:izadps:dp7221

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Keywords: intergenerational transmission; time preference; quasi-hyperbolic discounting; preschool children;

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  1. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2009. "Are Risk Aversion and Impatience Related to Cognitive Ability?," CESifo Working Paper Series 2620, CESifo Group Munich.
  2. Björn Bartling & Ernst Fehr & Barbara Fische & Fabian Kosse & Michel Maréchal & Friedhelm Pfeiffer & Daniel Schunk & Jürgen Schupp & C. Katharina Spieß & Gert G. Wagner, 2010. "Determinanten kindlicher Geduld – Ergebnisse einer Experimentalstudie im Haushaltskontext," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 130(3), pages 297-323.
  3. Laibson, David, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 443-77, May.
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