Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts capture them. In this review, we first analyze the extent which economic preferences psychological personality, such as Big Five locus control, are related. We data from incentivized laboratory experiments representative samples find only low degrees association between personality. then regress life outcomes (such labor market success, health status,...

This study presents evidence on the role of social environment for formation prosociality. We show that socioeconomic status (SES) as well intensity mother-child interaction and mothers' prosocial attitudes are related to elementary school children's also present a randomly assigned variation environment, providing children with mentor 1 year. Our data reveal significant persistent increase in prosociality treatment relative control group. Moreover, enriching closes gap between low- high-SES...

This paper explores inequalities in IQ and economic preferences between children from families of high low socioeconomic status (SES). We document that high-SES are more intelligent, patient, altruistic as well less risk seeking. To understand the underlying mechanisms, we propose a framework how SES, parental investments, maternal influence child’s preferences. Our results indicate disparities level investments hold substantial importance. In light importance for behaviors outcomes, our...

Abstract A large literature points to the importance of prosociality for well-being societies and individuals. However, most this work is based on observations from western, educated, industrialized, rich, democratic (WEIRD) societies, questioning generalizability these findings. Here we present a global investigation relation between labor market success. Our analysis uses experimentally validated measures about 80,000 individuals in 76 representative country samples. We show sizable robust...

Abstract Prosocial preferences and behaviors—defined as those that benefit others—are essential for health, well-being, a society can effectively respond to global challenges. Identifying factors may increase or decrease them is therefore critical. Wealth, in the form of income subjective financial well-being (FWB), be crucial determining prosociality. In addition, individuals’ experience precarity (inability meet basic needs) country-specific could change how wealth correlates with...

This study presents descriptive and causal evidence on the role of social environment for formation prosociality. In a first step, we show that socioeconomic status (SES) as well intensity mother-child interaction mothers’ prosocial attitudes are systematically related to elementary school children's second present randomly-assigned variation environment, providing children with mentor duration one year. Our data include two-year follow-up reveal significant persistent increase in...

This paper investigates physiological responses to perceptions of unfair pay. We use an integrated approach that exploits complementarities between controlled laboratory and representative panel data. In a simple principal–agent experiment, agents produce revenue by working on tedious task. Principals decide how this is allocated themselves their agents. Throughout the experiment we record agents’ heart rate variability, which indicator stress-related impaired cardiac autonomic control has...

Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts capture them. In this review we first analyze the extent which economic preferences psychological personality - such as Big Five locus control are related. We data from incentivized laboratory experiments representative samples find only low degrees association between personality. then regress life outcomes labor market success, health status satisfaction...

This paper explores inequalities in IQ and economic preferences between children from high low socio-economic status (SES) families. We document that SES families are more intelligent, patient altruistic, as well less risk-seeking. To understand the underlying causes mechanisms, we propose a framework of how parental investments maternal influence child's preferences. Within this framework, allow to both level time parenting style investments, productivity investment process. Our results...

We show that socio-economic status (SES) is a powerful predictor of many facets child's personality. The personality we investigate encompass time preferences, risk and altruism, as well crystallized fluid IQ. measure family's SES by the mother's father's average years education household income. Our results children from families with higher are more patient, tend to be altruistic less likely seeking, score on IQ tests.We also discuss potential pathways through which could affect formation...

Abstract Reporting private information is a key part of economic decision-making. A recent literature has found that many people have preference for honest reporting, contrary to usual assumptions. In this paper, we investigate whether preferences honesty are malleable and what determines them. We experimentally measure in sample children. As our main result, provide causal evidence on the effect social environment by randomly enrolling children year-long mentoring programme. find that,...

Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts capture them. In this review we first analyze the extent which economic preferences psychological personality – such as Big Five locus control are related. We data from incentivized laboratory experiments representative samples find only low degrees association between personality. then regress life outcomes labor market success, health status satisfaction...

We show that socio-economic status (SES) is a powerful predictor of many facets child's personality. The personality we investigate encompass time preferences, risk and altruism, as well crystallized fluid IQ. measure family's SES by the mother's father's average years education household income. Our results children from families with higher are more patient, tend to be altruistic less likely seeking, score on IQ tests. also discuss potential pathways through which could affect formation...

This study provides insights on the role of early childhood family environment within process preference formation. We start by presenting evidence showing that breastfeeding duration is a valid measure quality environment. In main analysis, we then investigate how affects formation fundamental economic preferences such as time, risk, and social preferences. sample preschool children find longer associated with higher levels patience altruism well lower willingness to take risk. Repeating...

Inequality of opportunity strikes when two children with the same academic performance are sent to different quality schools because their parents differ in socio-economic status. Based on a novel dataset for Germany, we demonstrate that significantly less likely enter track if they come from low status (SES) families, even after conditioning prior measures school performance. We then provide causal evidence low-intensity mentoring program can improve long-run education outcomes SES and...

Patience as a basis for life success is not just question of biology and heredity: Rather, the early interaction between parent child socialization in childhood appear to be “cradle action” area time preferences well. In this study, we use an experimental dataset collected framework longitudinal German Socio-Economic Panel (SOEP) study investigate possible determinants “delayed gratification” children ages five six (referred article “patience children”). Our results clearly show that better...

Abstract This study explores the intergenerational transmission of time preferences and focuses on question which specific aspects mother's preference are related to her preschool child's ability delay gratification. We provide a new procedure for calculating parameters 'quasi-hyperbolic' discount function (Laibson, Citation1997) using two trade-off experiments. apply sample 213 mother-child pairs show that especially beta parameter is Keywords: transmissiontime...

This study presents descriptive and causal evidence on the role of social environment for formation prosociality. In a first step, we show that socio-economic status (SES) as well intensity mother-child interaction mothers’ prosocial attitudes are systematically related to elementary school children’s second present randomly assigned variation environment, providing children with mentor duration one year. Our data include two-year follow-up reveal significant persistent increase in...