Education increases patience: Evidence from a change in a compulsory schooling law

Pınar Kunt Šimunović

Economics & Human Biology, 2024, vol. 53, issue C

Abstract: I investigate the causal effect of education on time preferences. To deal with the endogeneity of education, I exploit exogenous variation in education imposed by a Turkish school reform that raised compulsory education from five to eight years. I find that education causes individuals to make more patient inter-temporal choices but does not induce them to report being more patient. I also provide evidence that the effect of education on patient inter-temporal choices does not operate through changes in financial well-being.

Keywords: Time preference; education; compulsory schooling (search for similar items in EconPapers)
JEL-codes: D90 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ehbiol:v:53:y:2024:i:c:s1570677x24000273

DOI: 10.1016/j.ehb.2024.101375

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