Patience, Risk-Taking, and Human Capital Investment Across Countries
نویسندگان
چکیده
Abstract Patience and risk-taking—two preference components that steer intertemporal decision-making—are fundamental to human capital investment decisions. To understand how they contribute international skill differences, we combine Programme for International Student Assessment tests with the Global Preference Survey. We find opposing effects of patience (positive) risk-taking (negative) together account two-thirds cross-country variation in student skills. In an identification strategy addressing unobserved residence country features, similar results when assigning migrant students their country-of-origin preferences models fixed effects. Associations national family school inputs suggest both may act as channels.
منابع مشابه
Constraints to Human Capital Investment in Developing Countries
Acknowledgements Throughout the course of this dissertation, Lex Borghans has provided invaluable support. He has generously shared with me his brilliant, logical way of thinking on how to approach the world using economic science. He has been very generous with his time having many insightful conversations with me as I went through each step of the PhD. I will always be grateful for this. I wo...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2021
ISSN: ['1742-0350', '0013-0133', '1468-0297']
DOI: https://doi.org/10.1093/ej/ueab105