ADOLESCENT TIME PREFERENCES PREDICT LIFETIME OUTCOMES

• 成果类型: Article
• 署名作者: Golsteyn, Bart H. H.; Gronqvist, Hans; Lindahl, Lena
• 署名单位: Maastricht University; Stockholm University
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12095
• 发表日期: 2014
• 页码: F739-F761
• 关键词: preschool delay; impatience; abilities; BEHAVIOR; HEALTH; income

摘要

This study investigates the relationship between time preferences and lifetime social and economic outcomes. We use a Swedish longitudinal data set that links information from a large survey on children's time preferences at age 13 to administrative registers spanning over five decades. Our results indicate a substantial adverse relationship between high discount rates and school performance, health, labour supply and lifetime income. Males and high-ability children gain significantly more from being future oriented. These discrepancies are largest regarding outcomes later in life. We also show that the relationship between time preferences and long-run outcomes operates through early human capital investments.