Parental Investment and the Intergenerational Transmission of Economic Preferences and Attitudes

Maria Zumbühl (), Thomas Dohmen and Gerard Pfann
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Maria Zumbühl: University of Bern
Authors registered in the RePEc Author Service: Maria Zumbuehl

No 7476, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: We study empirically whether there is scope for parents to shape the economic preferences and attitudes of their children through purposeful investments. We exploit information on the risk and trust attitudes 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 invest more in the upbringing of their children are more similar to them with respect to risk and trust attitudes and thus transmit their own attitudes more strongly. The results are robust to including variables on the relationship between children and parents, family size, and the parents' socioeconomic background.

Keywords: risk preferences; trust; intergenerational transmission; cultural transmission; social mobility; GSOEP (search for similar items in EconPapers)
JEL-codes: D1 D8 J13 J62 Z13 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2013-06
New Economics Papers: this item is included in nep-cbe, nep-dem, nep-evo, nep-soc and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (43)

Published - published as 'Parental Involvement and the Intergenerational Transmission of Economic Preferences, Attitudes, and Personality Traits' in: Economic Journal, 2021, 131 (638), 2642–2670

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Related works:
Working Paper: Parental Investment and the Intergenerational Transmission of Economic Preferences and Attitudes (2013)
Working Paper: Parental Investment and the Intergenerational Transmission of Economic Preferences and Attitudes (2013)
Working Paper: Parental investment and the intergenerational transmission of economic preferences and attitudes (2013)
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