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Quasi-Hyperbolic Time Preferences and their Intergenerational Transmission


  • Kosse, Fabian

    () (briq)

  • Pfeiffer, Friedhelm

    () (ZEW Mannheim)


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.

Suggested Citation

  • Kosse, Fabian & Pfeiffer, Friedhelm, 2013. "Quasi-Hyperbolic Time Preferences and their Intergenerational Transmission," IZA Discussion Papers 7221, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp7221

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    References listed on IDEAS

    1. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2010. "Are Risk Aversion and Impatience Related to Cognitive Ability?," American Economic Review, American Economic Association, vol. 100(3), pages 1238-1260, June.
    2. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 443-478.
    3. Gert G. Wagner & Joachim R. Frick & Jürgen Schupp, 2007. "The German Socio-Economic Panel Study (SOEP) – Scope, Evolution and Enhancements," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 127(1), pages 139-169.
    4. 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.
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    Cited by:

    1. Philipp Huebler & Andreas Kucher, 2016. "Ashes to ashes, time to time - Parental time discounting and its role in the intergenerational transmission of smoking," Discussion Paper Series 326, Universitaet Augsburg, Institute for Economics.
    2. Pannenberg, Markus & Friehe, Tim, 2017. "Time preferences and political regimes: Evidence from reunified Germany," Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168173, Verein für Socialpolitik / German Economic Association.
    3. Koch, Alexander & Nafziger, Julia & Nielsen, Helena Skyt, 2015. "Behavioral economics of education," Journal of Economic Behavior & Organization, Elsevier, vol. 115(C), pages 3-17.
    4. Fitzenberger, Bernd & Licklederer, Stefanie, 2016. "Additional Career Assistance and Educational Outcomes for Students in Lower Track Secondary Schools," Annual Conference 2016 (Augsburg): Demographic Change 145787, Verein für Socialpolitik / German Economic Association.
    5. James Andreoni & Michael Kuhn & John List & Anya Samek & Charles Sprenger, 2017. "Field experiments on the development of time preferences," Artefactual Field Experiments 00615, The Field Experiments Website.
    6. Jens Mohrenweiser & Friedhelm Pfeiffer, 2016. "Zur Entwicklung der studienspezifischen Selbstwirksamkeit in der Oberstufe
      [The development of study-specific self-efficacy during grammar school]
      ," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 49(1), pages 77-95, July.

    More about this item


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

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • D10 - Microeconomics - - Household Behavior - - - General

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