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Adolescent time preferences predict lifetime outcomes
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI). Maastricht University, The Netherlands.
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
Stockholm University, Faculty of Social Sciences, The Swedish Institute for Social Research (SOFI).
2014 (English)In: Economic Journal, ISSN 0013-0133, E-ISSN 1468-0297, Vol. 124, no 580, F739-F761 p.Article in journal (Refereed) Published
Abstract [en]

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.

Place, publisher, year, edition, pages
2014. Vol. 124, no 580, F739-F761 p.
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-108878DOI: 10.1111/ecoj.12095ISI: 000344738400008OAI: oai:DiVA.org:su-108878DiVA: diva2:761263
Available from: 2014-11-06 Created: 2014-11-06 Last updated: 2017-12-05Bibliographically approved

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Golsteyn, Bart H. H.Grönqvist, HansLindahl, Lena
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