The effect of education on time preferences

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• 作者：Francisco Perez-Arce¹ ; ^{perezarc@usc.edu}
• 关键词：Education ; College ; Schooling ; Time preference ; Patience ; Gratification delay ; Mexico
• 刊名：Economics of Education Review
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：56
• 期：Complete
• 页码：52-64
• 全文大小：592 K
• 卷排序：56

文摘

I examine whether education increases patience by analyzing a case study of a public college in Mexico City where admission decision are determined through a lottery. The lottery resulted in one group acquiring more education than the other. I measured their time preferences with a series of hypothetical inter-temporal choice questions. One set of questions used monetary rewards, and a second set used trips of different lengths. I compare response of those induced to acquire more education, with the control group, and find that individuals who were successful in the admission lottery were, on average, more patient. The difference is statistically significant and robust to alternative specification for questions using the trip rewards, but statistically insignificant for those using monetary rewards. Evidence is suggestive of a causal effect of education on time preferences.