We construct a dynamic model of child development where forward-looking parents and children jointly take actions to increase the child's cognitive and non-cognitive skills within a Markov Perfect Equilibrium framework. In addition to time and money investments in their child, parents also...

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...

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...

We provide experimental evidence of behavior consistent with the sunk cost effect. Subjects who earned a lottery via a real-effort task were given an opportunity to switch to a dominant lottery; 23% chose to stick with their dominated lottery. The endowment effect accounts for roughly only one...

Though many in the general public are concerned about climate change, most are unaware that agriculture and food production accounts for about one quarter of aggregate green house emissions and therefore, diet change is one of the most effective ways that individuals can reduce their climate...

This study investigates the predictive power of self-control for individuals and their children using population representative data. We use the well-established Brief Self-Control Scale to demonstrate that people's trait self-control is highly predictive of their life outcomes. Higher...

This paper studies self-control in a nationally representative sample. Using the wellestablished Tangney scale to measure trait self-control, we find that people's age as well as the political and economic institutions they are exposed to have an economically meaningful impact on their level of...