The intergenerational transmission of risk and trust attitudes

Review of Economic Studies

Volumn 79, Issue 2, 2012, Pages 645-677

  Dohmen, Thomas ^a   Falk, Armin ^b,e   Huffman, David ^c   Sunde, Uwe ^d,e  

^a MAASTRICHT UNIVERSITY   (Netherlands)

^b UNIVERSITY OF BONN   (Germany)

^c IZA   (Germany)

^d UNIVERSITY OF ST GALLEN   (Switzerland)

^e CEPR   (United States)

Author keywords

Assortative mating; Cultural economics; Family economics; Intergenerational transmission; Risk preferences; Social interactions; SOEPD; Trust

Indexed keywords

ATTITUDINAL SURVEY; CULTURAL ECONOMY; EMPIRICAL ANALYSIS; INTERGENERATIONAL TRANSFER; NUMERICAL MODEL;

EID: 84860504341     PISSN: 00346527     EISSN: 1467937X     Source Type: Journal    
DOI: 10.1093/restud/rdr027     Document Type: Article

References (56)

1. BARSKY, R. B., JUSTER, T. F., KIMBALL, M. S. and SHAPIRO, M. D. (1997), "Preference Parameters and Individual Heterogeneity: An Experimental Approach in the Health and Retirement Study", Quarterly Journal of Economics, 112, 537-579.
2. BECKER, G. S. and LEWIS, H. (1973), "On the Interaction Between the Quantity and Quality of Children", Journal of Political Economy, 81, S279-S288.
3. BERG, J., DICKHAUT, J. and MCCABE, K. (1995), "Trust, Reciprocity and Social History", Games and Economic Behaviour, 10, 122-142.
4. BISIN, A., TOPA, G. and VERDIER, T. (2004), "Religious Intermarriage and Socialization in the United States", Journal of Political Economy, 112, 615-664.
5. BISIN, A. and VERDIER, T. (2000), "'Beyond the Melting Pot': Cultural Transmission, Marriage, and the Evolution of Ethnic and Religious Traits". Quarterly Journal of Economics, 115, 955-988.
6. BJÖRKLUND, A. (2007). "Family Background and Outcomes Later in Life: A (Partial and Personal) Survey of Recent Research Using Swedish Register Data" (Working Paper No. 4/2007, SOFI).
7. BONIN, H., DOHMEN, T., FALK, A., HUFFMAN, D. and SUNDE, U. (2007), "Cross-sectional Earnings Risk and Occupational Sorting: The Role of Risk Attitudes", Labour Economics, 14, 926-937.
8. BORGHANS, L., DUCKWORTH, A., HECKMAN, J. and TER WEEL, B. (2008), "The Economics and Psychology of Personality Traits", Journal of Human Resources, 43, 972-1059.
9. BORGHANS, L., MEIJERS, H. and TER WEEL, B. (2008), "The Role of Noncognitive Skills in Explaining Cognitive Test Scores", Economic Inquiry, 46, 2-12.
10. BOWLES, S. and GINTIS, H. (2002), "Social Capital and Community Governance", Economic Journal, 112, F419-F436.
11. CAMERER, C. and HOGARTH, R. (1999), "The Effects of Financial Incentives in Experiments: A Review and Capital- Labor-Production Framework", Journal of Risk and Uncertainty, 19, 7-42.
12. CASE, A. and KATZ, L. (1991), "The Company You Keep: The Effects of Family and Neighborhoods on Disadvantaged Youth" (Working Paper No. 3705, NBER).
13. CHARLES, K. K. and HURST, E. (2003), "The Correlation of Wealth Across Generations", Journal of Political Economy, 111, 1155-1182.
14. CHIAPPORI, P.-A. and RENY, P. (2006), "Matching to Share Risk" (Working Paper, Columbia University)
15. CUNHA, F. and HECKMAN, J. (2009), "The Economics and Psychology of Inequality and Human Development" (Discussion Paper No. 4001, IZA).
16. DOEPKE, M. and ZILIBOTTI, F. (2005), "Social Class and the Spirit of Capitalism", Journal of the European Economic Association, 3, 516-524.
17. DOEPKE, M. and ZILIBOTTI, F. (2008), "Patience Capital, Occupational Choice, and the Spirit of Capitalism", Quarterly Journal of Economics, 123, 747-793.
18. DOHMEN, T., FALK, A., HUFFMAN, D. and SUNDE, U. (2008), "Representative Trust and Reciprocity: Prevalence and Determinants", Economic Inquiry, 46, 84-90.
19. DOHMEN, T., FALK, A., HUFFMAN, D. and SUNDE, U. (2009), "Homo Reciprocans: Survey Evidence on Prevalence, Behavior and Success", Economic Journal, 119, 592-612.
20. DOHMEN, T., FALK, A., HUFFMAN, D., SUNDE, U., SCHUPP, J. and WAGNER, W. (2011), "Individual Risk Attitudes: Measurement, Determinants and Behavioral Consequences", Journal of the European Economic Association, 9, 522-550.
21. ERMISCH, J. F., FRANCESCONI, M. and SIEDLER, T. (2006), "Intergenerational Mobility and Marital Sorting", Economic Journal, 116, 659-679.
22. FALK, A. and ZEHNDER, C. (2007), "Discrimination and In-group Favoritism in a Citywide Trust Experiment" (Discussion Paper No. 2765, IZA).
23. FEHR, E., FISCHBACHER, U., ROSENBLADT, B. v., SCHUPP, J. andWAGNER, G. G. (2003), "A Nation-wide Laboratory: Examining Trust and Trustworthiness by Integrating Behavioral Experiments into Representative Surveys" (Mimeo, Institute for Empirical Research in Economics, University of Zurich).
24. FEHR, E. and GÄCHTER, S. (2000), "Cooperation and Punishment in Public Goods Experiments", American Economic Review, 90, 980-994.
25. FERNÁNDEZ, R. (2007), "Culture and Economics", in Durlauf, S. and Blume, L. (eds) New Palgrave Dictionary of Economics, 2nd edn (Basingstoke: Palgrave Macmillan). DOI:10.1057/9780230226203.0346.
26. FERNÁNDEZ, R. and FOGLI, A. (2005), "Culture: An Empirical Investigation of Beliefs, Work, and Fertility" (Working Paper, New York University).
27. FERNÁNDEZ, R., GUNNER, N. and KNOWLES, J. (2005), "Love and Money: A Theoretical and Empirical Analysis of Household Sorting and Inequality", Quarterly Journal of Economics, 120, 273-344.
28. FERNÁNDEZ, R., FOGLI, A. and OLIVETTI, C. (2004), "Mothers and Sons: Preference Formation and Female Labor Force Participation", Quarterly Journal of Economics, 119, 1249-1299.
29. FERSHTMAN, C. and GNEEZY, U. (2001), "Discrimination in a Segmented Society: an Experimental Approach", Quarterly Journal of Economics, 116, 351-377.
30. FOWLER, F. (1988), Survey Research Methods (London: Newbury Park)
31. FRAGA, M. F., BALLESTAR, E., PAZ, M. F., ROPERO, S., SETIEN, F., BALLESTAR, M. L., HEINE-SUNER, D., CIGUDOSA, J. C., URIOSTE, M., BENITEZ, J., BOIX-CHORNET, M., SANCHEZ-AGUILERA, A., LING, C., CARLSSON, E., POULSEN, P., VAAG, A., STEPHAN, Z., SPECTOR, T. D., WU, Y. -Z., PLASS, C. and ESTELLER, M et al. (2005), "Epigenetic Differences Arise during the Lifetime of Monozygotic Twins", Proceedings of the National Academy of Sciences, 102, 10604-10609.
32. GANZEBOOM, H. B. G. and TREIMAN, D. "Internationally Comparable Measures of Occupational Status for the 1988 International Standard Classification of Occupations", Social Science Research, 25, 201-239.
33. GLAESER, E. L., LAIBSON, D. I., SCHEINKMAN, J. A. and SOUTTER, C. (2000), "Measuring Trust", Quarterly Journal of Economics, 115, 811-846.
34. GLAESER, E. L., SACERDOTE, B. and SCHEINKMAN, J. A. (1996), "Crime and Social Interactions", Quarterly Journal of Economics, 111, 507-548.
35. GUISO, L. and PAIELLA, M. (2001), "Risk-Aversion, Wealth, and Background Risk" (Discussion Paper No. 2728, CEPR).
36. GUISO, L., SAPIENZA, P. and ZINGALES, L. (2003), "People's Opium? Religion and Economic Attitudes", Journal of Monetary Economics, 50, 225-282.
37. GUISO, L., SAPIENZA, P. and ZINGALES, L. (2006), "Does Culture Affect Economic Outcomes?", Journal of Economic Perspectives, 20, 23-48.
38. HARRIS, J. (1995),"Where Is the Child's Environment? A Group Socialization Theory of Development", Psychological Review, 102, 458-489.
39. HAUK, E. and SAEZ-MARTI, M. (2002), "On the Cultural Transmission of Corruption", Journal of Economic Theory, 107, 311-335.
40. HECKMAN, J. J. (2006), "Skill Formation and the Economics of Investing in Disadvantaged Children", Science, 312, 1900-1902.
41. HEINECK, G. and RIPHAHN, R. (2009), "Intergenerational Transmission of Educational Attainment in Germany - The Last Five Decades", Journal of Economics and Statistics, 229, 36-60.
42. KNACK, S. and KEEFER, P. (1997), "Does Social Capital Have an Economic Payoff? A Cross-country Investigation", Quarterly Journal of Economics, 112, 1251-1288.
43. KOSFELD, M., HEINRICHS, M., ZAK, P., FISCHBACHER, U. and FEHR, E. (2005), "Oxcytocin Increases Trust in Humans", Nature, 435, 673-676.
44. LAM, D. (1988), "Marriage Markets and Assortative mating with Household Public Goods: Theoretical Results and Empirical Implications", Journal of Human Resources, 23, 462-487.
45. LOEHLIN, J., HORN, J. and WILLERMAN, L. (1981), "Personality Resemblance in Adoptive Families", Behavior Genetics, 11, 309-330.
46. MANSKI, C. (2000), "Economic Analysis of Social Interactions.", Journal of Economic Perspectives, 14, 115-136
47. MCCLEARY, R. and BARRO, R. (2006), "Religion and Economy", Journal of Economic Perspectives, 20, 49-72.
48. MULLIGAN, C. B. (1997), Parental Priorities and Economic Inequality (Chicago: University of Chicago Press)
49. PUTNAM, R. D., LEONARDI, R. and NANETTI, R. Y. (1994), Making Democracy Work: Civic Traditions in Modern Italy (Princeton: Princeton University Press)
50. SCHUPP, J. andWAGNER, G. G. (2002), "Maintenance of and Innovation in Long-Term Panel Studies The Case of the German Socio-Economic Panel (GSOEP)", Allgemeines Statistisches Archiv, 86, 163-175.
51. SOLON, G.(2002), "Cross-country Differences in Intergenerational Income Mobility", Journal of Economic Perspectives, 16, 59-66.
52. TABACHNICK, B. G. and FIDELL, L. S. (2001), Using Multivariate Statistics, 2nd edn (Boston: Allyn and Bacon).
53. TABELLINI, G. (2005), "Culture and Institutions: Economic Development in the Regions of Europe" (Working Paper No. 1492, CESifo).
54. TABELLINI, G. (2007), "The Scope of Cooperation: Norms and Incentives" (Mimeo, Bocconi University).
55. WAGNER, G. G., BURKHAUSER, R. V. and BEHRINGER, F. (1993), "The English Language Public Use File of the German Socio-Economic Panel", Journal of Human Resources, 28, 429-433.
56. WEBER, M. (1930), The Protestant Ethic and the Spirit of Capitalism (London: HarperCollins).