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  Parental Paternalism and Patience

Kiessling, L., Chowdhury, S., Schildberg-Hörisch, H., & Sutter, M. (2021). Parental Paternalism and Patience.

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 Creators:
Kiessling, Lukas1, Author              
Chowdhury, Shyamal, Author
Schildberg-Hörisch, Hannah, Author
Sutter, Matthias1, Author              
Affiliations:
1Max Planck Institute for Research on Collective Goods, Max Planck Society, ou_2173688              

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Free keywords: Parental paternalism, Time preferences, Convex time budgets, Present bias, Intergenerational transmission, Parenting styles, Experiment
 JEL: C90 - General
 JEL: D1 - Household Behavior and Family Economics
 JEL: D15 - Intertemporal Household Choice; Life Cycle Models and Saving
 JEL: D64 - Altruism; Philanthropy; Intergenerational Transfers
 JEL: J13 - Fertility; Family Planning; Child Care; Children; Youth
 JEL: J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
 JEL: O12 - Microeconomic Analyses of Economic Development
 Abstract: We study whether and how parents interfere paternalistically in their children’s intertemporal decision-making. Based on experiments with over 2,000 members of 610 families, we find that parents anticipate their children’s present bias and aim to mitigate it. Using a novel method to measure parental interference, we show that more than half of all parents are willing to pay money to override their children’s choices. Parental interference predicts more intensive parenting styles and a lower intergenerational transmission of patience. The latter is driven by interfering parents not transmitting their own present bias, but molding their children’s preferences towards more time-consistent choices.

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 Dates: 2021-01-12
 Publication Status: Published online
 Pages: -
 Publishing info: Bonn : Max Planck Institute for Research on Collective Goods, Discussion Paper 2021/3
 Table of Contents: -
 Rev. Type: -
 Identifiers: Other: 2021/3
 Degree: -

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