The Agricultural Origins of Time Preference

Oded Galor and Ömer Özak

No 1501, Departmental Working Papers from Southern Methodist University, Department of Economics

Abstract: This research explores the origins of the distribution of time preference across regions. It advances the hypothesis, and establishes empirically that geographical variations in the natural return to agricultural investment have had a persistent effect on the distribution of time preference across societies. In particular, exploiting a natural experiment associated with the expansion of suitable crops for cultivation in the course of the Columbian Exchange, the research establishes that preindustrial agro-climatic characteristics that were conducive to higher return to agricultural investment, triggered selection and learning processes that had a persistent positive effect on the prevalence of long-term orientation in the contemporary era.

Keywords: Time preference; Delayed Gratification; Culture; Agriculture; Economic Development; Evolution. (search for similar items in EconPapers)
JEL-codes: O1 Z1 (search for similar items in EconPapers)
Date: 2015-01
New Economics Papers: this item is included in nep-agr, nep-evo and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Journal Article: The Agricultural Origins of Time Preference (2016)
Working Paper: The Agricultural Origins of Time Preference (2016)
Working Paper: The Agricultural Origins of Time Preference (2015)
Working Paper: The Agricultural Origins of Time Preference (2014)
Working Paper: The Agricultural Origins of Time Preference (2014)
Working Paper: The Agricultural Origins of Time Preference (2014)
Working Paper: The Agricultural Origins of Time Preference (2014)
Working Paper: The Agricultural Origins of Time Preference (2014)
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