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Parental Investment and the Intergenerational Transmission of Economic Preferences and Attitudes

  • Zumbühl, Maria

    ()

    (ROA, Maastricht University)

  • Dohmen, Thomas

    ()

    (University of Bonn)

  • Pfann, Gerard A.

    ()

    (Maastricht University)

We study empirically whether there is scope for parents to shape the economic preferences and attitudes of their children through purposeful investments. We exploit information on the risk and trust attitudes of parents and their children, as well as rich information about parental efforts in the upbringing of their children from the German Socio-Economic Panel Study. Our results show that parents who invest more in the upbringing of their children are more similar to them with respect to risk and trust attitudes and thus transmit their own attitudes more strongly. The results are robust to including variables on the relationship between children and parents, family size, and the parents' socioeconomic background.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7476.

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Length: 29 pages
Date of creation: Jun 2013
Date of revision:
Handle: RePEc:iza:izadps:dp7476
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  14. Dohmen, Thomas J. & Falk, Armin & Huffman, David & Sunde, Uwe, 2012. "The intergenerational transmission of risk and trust attitudes," Munich Reprints in Economics 20051, University of Munich, Department of Economics.
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