Poverty and Aspirations Failure

• 成果类型: Article
• 署名作者: Dalton, Patricio S.; Ghosal, Sayantan; Mani, Anandi
• 署名单位: Tilburg University; University of Glasgow; University of Warwick
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12210
• 发表日期: 2016
• 页码: 165-188
• 关键词: Endogenous tastes; loss aversion; income; INEQUALITY; CHOICE

摘要

We develop a theoretical framework to study the psychology of poverty and aspirations failure', defined as the failure to aspire to one's own potential. In our framework, rich and the poor persons share the same preferences and same behavioural bias in setting aspirations. We show that poverty can exacerbate the effects of this behavioural bias leading to aspirations failure and hence, a behavioural poverty trap. Aspirations failure is a consequence of poverty, rather than a cause. We specify the conditions under which raising aspirations alone is sufficient to help escape from a poverty trap, even without relaxing material constraints.