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Essays on Regional Differences in Time Preferences and Attachment to Place

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  • Yi, Dale

Abstract

Data from a national telephone survey of working-aged adults in the continental US is combined with US Census 2000 data to explore the determinants of attachment to place and time preferences for jobs, natural amenities, and financial assets. Five regions in the US were delineated so that regional differences in the determinants of the dependent variables of interest could be parsed out. The regions are the Great Plains, Borderlands, Appalachia, the Plantation Belt, and the rest of the continental US. The first essay that explores time preferences for jobs, natural amenities, and money. Each was embedded with a ten percent rate of return. In aggregate, the nation as a whole demonstrated that the discount rate for jobs, natural amenities, and financial assets were each very different. The second essay explores the determinants of attachment to place by asking respondents how much money it would take to convince them to move to another community. Regional differences were detected both for time preferences and attachment to place. In addition to the independent variables classically used to explore our dependent variables of interest, these regional variables and their interactive expansions were observed to have a significant effect.

Suggested Citation

  • Yi, Dale, 2009. "Essays on Regional Differences in Time Preferences and Attachment to Place," Graduate Research Masters Degree Plan B Papers 56009, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  • Handle: RePEc:ags:midagr:56009
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    Keywords

    Great Plains; migration; time preference; survey; community attachment; social capital; natural amenity; economic development; community; census; zip code; policy; Native American; Community/Rural/Urban Development; Resource /Energy Economics and Policy; R11; R23; R53; R58; Q51; Q52; O13; O15;

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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