Individual wealth accumulation: Why does dining together as a family matter?

Swarnankur Chatterjee, Lance Palmer and Joseph Goetz

EconStor Open Access Articles and Book Chapters, 2012, vol. 8, issue 2, 1-22

Abstract: This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who had sufficient self-regulation to regularly eat meals together with their family, increased wealth at a faster rate than others between 1994 and 2004. Moreover, those who exhibited self-regulation by frequently spending mealtime with their family showed greater preference for investment portfolio diversification. Consistent with other studies, results indicate that wealth accumulation increased with age, income, and educational attainment.

Keywords: Individual wealth; Behavioral Economics; Portfolio Allocation; Self Regulation (search for similar items in EconPapers)
JEL-codes: D03 D14 D31 D91 (search for similar items in EconPapers)
Date: 2012
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https://www.econstor.eu/bitstream/10419/129438/1/8.2.pdf (application/pdf)

Related works:
Working Paper: Individual wealth accumulation: Why does dining together as a family matter? (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:129438

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