Parental investment and the intergenerational transmission of economic preferences and attitudes

M.A. Zumbühl, T.J. Dohmen, G.A. Pfann

Research output: Working paperProfessional

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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.
Original languageEnglish
Place of PublicationMaastricht
PublisherMaastricht University, Graduate School of Business and Economics
Publication statusPublished - 1 Jan 2013

Publication series

SeriesGSBE Research Memoranda
Number033

Cite this

Zumbühl, M. A., Dohmen, T. J., & Pfann, G. A. (2013). Parental investment and the intergenerational transmission of economic preferences and attitudes. Maastricht University, Graduate School of Business and Economics. GSBE Research Memoranda, No. 033