Parental socialisation effort and the intergenerational transmission of risk preferences

Sule Alan, Nazli Baydar, Teodora Boneva, Thomas Crossley () and Seda Ertaç
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Nazli Baydar: Institute for Fiscal Studies

No W13/12, IFS Working Papers from Institute for Fiscal Studies

Abstract: We study the transmission of risk attititudes in a unique survey of mothers and children in which both participated in an incentivised risk preference elicitation task. We document that risk preferences are correlated between mothers and children when the children are just 7 to 8 years old. This correlation is only present for daughters. We show that a measure of parental involvement is a strong moderator of the association between mothers' and daughers' risk tolerance. These findings support a role for socialisation in the intergenerational transmission of preferences that predict economic behaviour.

Keywords: risk preferences; intergenerational transmission; children's economic decisions; field experiements (search for similar items in EconPapers)
JEL-codes: C93 D03 J16 (search for similar items in EconPapers)
Date: 2013-06-12
New Economics Papers: this item is included in nep-dem, nep-evo and nep-upt
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Citations: View citations in EconPapers (8)

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Working Paper: Parental Socialization Effort and the Intergenerational Transmission of Risk Preferences (2013)
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