Endogenous Changes in Tastes

Daniel Léonard and Ngo Long

CIRANO Working Papers from CIRANO

Abstract: Parents care about their children, spend resources on educating them and bequeath them some physical and/or human capital. Here we argue that the actions of the parents have an influence, not only on the productive possibilities open to the children (through the capital they inherit) but also on their tastes and attitudes. We investigate the resulting dynamics of this idea. Several influences are identified but one startling result is that, if inheritance has a large influence on people's attitude to work, the pattern of behavior becomes completely unpredictable after a few generations Les parents se soucient de leurs enfants, dépensent des ressources pour les éduquer, ils leur lèguent un capital physique et/ou humain. Ici, nous montrons que les actions des parents ont une influence, non seulement sur les possibilités de production ouvertes aux enfants (par le biais du captital dont ils héritent), mais aussi sur leurs goûts et leurs attitudes. Nous étudions la dynamique résultant de cette idée. Plusieurs influences sont identifiées mais un résultat surprenant est que, si l'héritage a une grande influence sur l'attitude des gens envers le travail, l'évolution du stock de capital et du travail devient totalement imprévisible après quelques générations

Keywords: Endogenous preferences; bequests; chaos.; évolution de préférences; legs; chaos. (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Date: 2014-02-01
New Economics Papers: this item is included in nep-evo
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https://cirano.qc.ca/files/publications/2014s-23.pdf

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Journal Article: Endogenous changes in tastes (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:cir:cirwor:2014s-23

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