Endogenous changes in tastes

Daniel Leonard; Ngo van Long

Endogenous changes in tastes

Daniel Leonard
, Ngo van Long

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

Parents care about their children, spend resources on educating them and bequeath them some physical and/or human capital. Here we argue that the actions of the parents have an influence, not only on the productive possiblities open to the children (through the captital they inherit) but also on their tastes and attitudes. We investigate the resulting dynamics of this idea. Several influences are identified but one startling result is that, if inheritance has a large influence on people's attitude to work, the pattern of behaviour becomes completely unpredictable after a few generations.

Original language	English
Pages (from-to)	923-937
Number of pages	15
Journal	Economics Bulletin
Volume	34
Issue number	2
Publication status	Published - 2014

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

Bequests
Dynamics
Tastes

Cite this

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AB - Parents care about their children, spend resources on educating them and bequeath them some physical and/or human capital. Here we argue that the actions of the parents have an influence, not only on the productive possiblities open to the children (through the captital they inherit) but also on their tastes and attitudes. We investigate the resulting dynamics of this idea. Several influences are identified but one startling result is that, if inheritance has a large influence on people's attitude to work, the pattern of behaviour becomes completely unpredictable after a few generations.

KW - Bequests

KW - Dynamics

KW - Tastes

UR - http://www.accessecon.com/Pubs/EB/2014/Volume34/EB-14-V34-I2-P86.pdf

UR - https://www.scopus.com/pages/publications/84902660532

M3 - Article

SN - 1545-2921

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JO - Economics Bulletin

JF - Economics Bulletin

IS - 2

ER -

Endogenous changes in tastes

Abstract

UN SDGs

Keywords

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