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Fertility in the absence of self-control

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Abstract

This paper studies the quantity-quality trade-off model of fertility, under the assumption of hyperbolic discounting. It shows that the lack of self-control may play a different role in a developed economy and in a developing one. In the first case, characterized by a positive investment in quality, the lack of self control may tend to reduce fertility. In the second case, it is possible that the lack of self-control leads to both no investment in quality and a higher fertility rate. It is also proved that if parents cannot commit on their investment in quality, a small change of parameters may lead to a jump in fertility and education.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2011/11007.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 11007.

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Length: 35 pages
Date of creation: Jan 2011
Date of revision:
Handle: RePEc:mse:cesdoc:11007

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Keywords: Endogenous fertility; quasi-hyperbolic discounting.;

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References

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  1. Bertrand Wigniolle, 2012. "Savings behavior with imperfect capital markets: when hyperbolic discounting leads to discontinuous strategies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00684210, HAL.
  2. Birdsall, Nancy, 1988. "Economic approaches to population growth," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 12, pages 477-542 Elsevier.
  3. DE LA CROIX, David & DOEPKE, Matthias, . "Inequality and growth: why differential fertility matters," CORE Discussion Papers RP -1676, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Zhiqi Chen & Frances Woolley, 1999. "A Cournot-Nash Model of Family Decision Making," Carleton Economic Papers 99-13, Carleton University, Department of Economics, revised Oct 2001.
  5. Gary S. Becker & Nigel Tomes, 1976. "Child Endowments, and the Quantity and Quality of Children," NBER Working Papers 0123, National Bureau of Economic Research, Inc.
  6. Larry E. Jones & Alice Schoonbroodt, 2007. "Complements versus Substitutes and Trends in Fertility Choice in Dynastic Models," NBER Working Papers 13680, National Bureau of Economic Research, Inc.
  7. Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
  8. Robert J. Barro, 1999. "Ramsey Meets Laibson In The Neoclassical Growth Model," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1125-1152, November.
  9. Diamond, Peter & Koszegi, Botond, 2003. "Quasi-hyperbolic discounting and retirement," Journal of Public Economics, Elsevier, vol. 87(9-10), pages 1839-1872, September.
  10. Bertrand Wigniolle, 2012. "Savings behavior with imperfect capital markets: when hyperbolic discounting leads to discontinuous strategies," Post-Print halshs-00684210, HAL.
  11. Gary S. Becker & Kevin M. Murphy & Robert F. Tamura, 1990. "Human Capital, Fertility, and Economic Growth," NBER Working Papers 3414, National Bureau of Economic Research, Inc.
  12. Christopher Harris & David Laibson, 1999. "Dynamic Choices of Hyperbolic Consumers," Harvard Institute of Economic Research Working Papers 1886, Harvard - Institute of Economic Research.
  13. Gary S. Becker & Robert J. Barro, 1988. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc.
  14. Salanie, Francois & Treich, Nicolas, 2006. "Over-savings and hyperbolic discounting," European Economic Review, Elsevier, vol. 50(6), pages 1557-1570, August.
  15. Becker, Gary S & Lewis, H Gregg, 1973. "On the Interaction between the Quantity and Quality of Children," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages S279-88, Part II, .
  16. Loewenstein, George & Thaler, Richard H, 1989. "Intertemporal Choice," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 181-93, Fall.
  17. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
  18. Matthias Wrede, 2011. "Hyperbolic discounting and fertility," Journal of Population Economics, Springer, vol. 24(3), pages 1053-1070, July.
  19. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-58, December.
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As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Fertility and self-control
    by Economic Logician in Economic Logic on 2011-03-18 14:03:00
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Cited by:
  1. Matthias Wrede, 2011. "Hyperbolic discounting and fertility," Journal of Population Economics, Springer, vol. 24(3), pages 1053-1070, July.
  2. Bertrand Wigniolle, 2011. "Savings behavior with imperfect capital markets: when hyperbolic discounting leads to discontinuous strategies," Documents de travail du Centre d'Economie de la Sorbonne 11028, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.

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  1. Economic Logic blog

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