The Intergenerational Transmission of Risk Preferences: Evidence from Field Experiments in China and Korea.

IF 2.3 3区经济学 Q2 ECONOMICS

Journal of Family and Economic Issues Pub Date : 2023-04-12 DOI:10.1007/s10834-023-09896-x

Bobae Hong, Kichang Kim, Yuxin Su

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Abstract

In this study, we conduct field experiments with 196 worker-parent pairs from two companies in China and South Korea and explore factors that affect the similarity of risk preferences between parents and their offspring. In the Chinese data, we show more similar risk preferences between parents and their offspring when there are higher levels of parental involvement and financial parenting. In contrast, in the Korean data, a more demanding parenting style contributes to intergenerational transmission. These effects are mainly captured by the intergenerational transmission from Chinese mothers to their offspring and from Korean fathers to their offspring. In addition, we find that in our study, same-gender transmission contributes highly to intergenerational transmission, and the risk preferences of Chinese workers and their parents are more similar than those of Korean workers and their parents. We also discuss potential differences in the intergenerational transmission of risk preferences between China and Korea and Western countries. Our study provides a better understanding of the formation of individuals' risk preferences.

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风险偏好的代际传递：来自中国和韩国实地实验的证据。

在这项研究中，我们对来自中国和韩国两家公司的196对工人-父母进行了实地实验，并探讨了影响父母及其子女风险偏好相似性的因素。在中国的数据中，我们显示，当父母参与程度和经济育儿水平较高时，父母及其子女之间的风险偏好更相似。相比之下，在韩国的数据中，要求更高的育儿方式有助于代际传递。这些影响主要体现在从中国母亲到子女以及从韩国父亲到子女的代际传递上。此外，我们发现，在我们的研究中，同性传播对代际传播的贡献很大，中国工人及其父母的风险偏好比韩国工人及其父母更相似。我们还讨论了中国和韩国以及西方国家在风险偏好代际传递方面的潜在差异。我们的研究提供了对个人风险偏好形成的更好理解。

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来源期刊

Journal of Family and Economic Issues Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

5.10

自引率

12.50%

发文量

期刊介绍： Journal of Family and Economic Issues is an interdisciplinary publication that explores the intricate relationship between the family and its economic environment. Peer-reviewed contributions address important issues in family management, household labor and productivity, relationships between economic and non-economic issues including health and healthcare, as well as interrelations between external settings and family life, including family policy, work, and community. The journal features the following types of submissions: original research, critical reviews, brief communications, invited letters to the editor, and reviews of significant books on the field.