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Parental Paternalism and Patience

Lukas Kiessling (), Shyamal Chowdhury (), Hannah Schildberg-Hörisch and Matthias Sutter ()
Additional contact information
Shyamal Chowdhury: University of Sydney and IZA
Hannah Schildberg-Hörisch: Institute for Competition Economics (DICE) and IZA

No 55, ECONtribute Discussion Papers Series from University of Bonn and University of Cologne, Germany

Abstract: We study whether and how parents interfere paternalistically in their children’s intertemporal decision-making. Based on experiments with over 2,000 members of 610 families, we find that parents anticipate their children’s present bias and aim to mitigate it. Using a novel method to measure parental interference, we show that more than half of all parents are willing to pay money to override their children’s choices. Parental interference predicts more intensive parenting styles and a lower intergenerational transmission of patience. The latter is driven by interfering parents not transmitting their own present bias, but molding their children’s preferences towards more time-consistent choices.

Keywords: Parental paternalism; Time preferences; Convex time budgets; Present bias; Intergenerational transmission; Parenting styles; Experiment (search for similar items in EconPapers)
JEL-codes: C90 D1 D91 D64 J13 J24 O12 (search for similar items in EconPapers)
Pages: 82 pages
Date: 2021-01
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-neu
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https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_055_2021.pdf First version, 2021 (application/pdf)

Related works:
Working Paper: Parental Paternalism and Patience (2021) Downloads
Working Paper: Parental Paternalism and Patience (2021) Downloads
Working Paper: Parental Paternalism and Patience (2021) Downloads
Working Paper: Parental paternalism and patience (2021) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ajk:ajkdps:055

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