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Time preferences and lifetime outcomes

Bart Golsteyn (), Hans Grönqvist and Lena Lindahl

No 65, Research Memorandum from Maastricht University, Graduate School of Business and Economics (GSBE)

Abstract: This paper investigates the relationship between time preferences and lifetime social and economic behavior. We use a Swedish longitudinal dataset that links information from a large survey on children’s time preferences at age 13 to administrative registers spanning over four decades. Our results indicate a substantial adverse relationship between high discount rates and school performance, health, labor supply, and lifetime income. Males and high ability children gain significantly more from being future-oriented. These discrepancies are largest regarding outcomes later in life. We also show that the relationship between time preferences and long-run outcomes operates through early human capital investments.

Date: 2013-01-01
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Working Paper: Time preferences and lifetime outcomes (2013) Downloads
Working Paper: Time Preferences and Lifetime Outcomes (2013) Downloads
Working Paper: Time preferences and lifetime outcomes (2013) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:unm:umagsb:2013065

DOI: 10.26481/umagsb.2013065

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