parenting styles (related to Baumrind 1967). Parents maximize an objective function that combines Beckerian and paternalistic … altruism towards children. They can affect their children's choices via two channels: either by influencing their preferences …

hinges on risk tolerance and patience. Parents expecting their children to become entrepreneurs have an incentive to instill … these two values in their children. Cultural transmission is Beckerian, i.e., parents are driven by the desire to maximize … their children's happiness. We also consider, in an extension, a paternalistic motive for preference transmission. The …