Parenting with Patience: Parental Incentives and Child Development

• 成果类型: Article
• 署名作者: Del Boca, Daniela; Flinn, Christopher; Verriest, Ewout; Wiswall, Matthew
• 署名单位: University of Turin; Collegio Carlo Alberto; New York University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Johns Hopkins University; National Bureau of Economic Research
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/738481
• 发表日期: 2026
• 关键词: FUTURE ORIENTATION; extrinsic rewards; time; search; RISK; Heterogeneity; transmission; preferences; TECHNOLOGY; homework

摘要

We construct a dynamic model of child development where forward-looking parents and children jointly take actions to increase the child's cognitive and noncognitive skills within a Markov perfect equilibrium framework. In addition to time and money investments in their child, parents also choose whether to use explicit incentives to increase the child's self-investment, which may reduce the child's future intrinsic motivation to invest by reducing the child's discount factor. We use the estimated model parameters to show that the use of extrinsic motivation has large costs in terms of the child's future incentives to invest in themselves.