Parental Involvement and the Intergenerational Transmission of Economic Preferences, Attitude and Personality Traits

Maria Zumbuehl, Thomas Dohmen and Gerard Pfann

No 27, ECONtribute Discussion Papers Series from University of Bonn and University of Cologne, Germany

Abstract: We empirically investigate the link between parental involvement and shaping of the economic preferences, attitudes and personality traits of their children. We exploit information on the risk and trust attitudes, the Big Five personality traits and locus of control 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 are more involved in the upbringing of their children have children with more favourable attitudes and traits. These children rank higher in traits that further their success in life, and they are more similar to their parents in those attitudes, where the optimum level is more ambiguous.

Keywords: Risk preferences; trust; intergenerational transmission; cultural transmission; social mobility; SOEP (search for similar items in EconPapers)
JEL-codes: D9 J13 J62 Z1 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2020-09
New Economics Papers: this item is included in nep-neu and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_027_2020.pdf Second version, 2020 (application/pdf)

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Journal Article: Parental Involvement and the Intergenerational Transmission of Economic Preferences, Attitudes and Personality Traits (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:ajk:ajkdps:027

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