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Raising Juveniles

  • Bell, Clive

    ()

    (Heidelberg University)

  • Gersbach, Hans

    ()

    (ETH Zurich)

  • Schneider, Maik T.

    ()

    (ETH Zurich)

This paper investigates how families make decisions about the education of juveniles. The decision problem is analyzed in three variations: a 'decentralized' scheme, in which the parents control the purse-strings, but the children dispose of their time as they see fit; a 'hierarchical' scheme, in which the parents can enforce a particular level of schooling by employing a monitoring technology; and the cooperative solution, in which the threat point is one of the two noncooperative outcomes. Adults choose which game is played. While the subgame perfect equilibrium of the overall game is Pareto-efficient when viewed statically, it may yield less education than the hierarchical scheme. Regulation in the form of restrictions on child labor and compulsory schooling generally affects both the threat point and the feasible set of bargaining outcomes, and families may choose more schooling than the minimum required by law.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5036.

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Length: 33 pages
Date of creation: Jun 2010
Date of revision:
Publication status: published in: Games and Economic Behavior, 2012, 74 (1), 32-51
Handle: RePEc:iza:izadps:dp5036
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  1. Lundberg, Shelly & Romich, Jennifer & Tsang, Kwok P., 2007. "Decision-Making by Children," IZA Discussion Papers 2952, Institute for the Study of Labor (IZA).
  2. Banerjee, Abhijit V., 2004. "Educational policy and the economics of the family," Journal of Development Economics, Elsevier, vol. 74(1), pages 3-32, June.
  3. Gersbach, Hans & Siemers, Lars-H. R., 2010. "Land Reforms And Economic Development," Macroeconomic Dynamics, Cambridge University Press, vol. 14(04), pages 527-547, September.
  4. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, August.
  5. Bell, Clive & Gersbach, Hans & Schneider, Maik T., 2012. "Raising juveniles," Games and Economic Behavior, Elsevier, vol. 74(1), pages 32-51.
  6. Galor, Oded & Zeira, Joseph, 1988. "Income Distribution and Macroeconomics," MPRA Paper 51644, University Library of Munich, Germany, revised 01 Sep 1989.
  7. Robert A. Pollak, 2011. "Family Bargaining and Taxes: A Prolegomenon to the Analysis of Joint Taxation ," CESifo Economic Studies, CESifo, vol. 57(2), pages 216-244, June.
  8. Bergstrom, Theodore C, 1989. "A Fresh Look at the Rotten Kid Theorem--and Other Household Mysteries," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1138-59, October.
  9. Cox, Donald & Jakubson, George, 1995. "The connection between public transfers and private interfamily transfers," Journal of Public Economics, Elsevier, vol. 57(1), pages 129-167, May.
  10. Moshe Hazan & Binyamin Berdugo, 2005. "Child Labor, Fertility and Economic Growth," Development and Comp Systems 0507002, EconWPA.
  11. Bell, Clive & Gersbach, Hans, 2009. "Child Labor And The Education Of A Society," Macroeconomic Dynamics, Cambridge University Press, vol. 13(02), pages 220-249, April.
  12. Heckman, James J., 2008. "Schools, Skills, and Synapses," IZA Discussion Papers 3515, Institute for the Study of Labor (IZA).
  13. Dessy, Sylvain E., 2000. "A defense of compulsive measures against child labor," Journal of Development Economics, Elsevier, vol. 62(1), pages 261-275, June.
  14. Barham, V. & Boadway, R. & Marchand, M. & Pestieau, P., . "Education and the poverty trap," CORE Discussion Papers RP -1173, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  15. Becker, Gary S, 1974. "A Theory of Social Interactions," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1063-93, Nov.-Dec..
  16. Loury, Glenn C, 1981. "Intergenerational Transfers and the Distribution of Earnings," Econometrica, Econometric Society, vol. 49(4), pages 843-67, June.
  17. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 508-46, June.
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