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  1. The heritability of economic preferences
    Author: Kettlewell, Nathan; Tymula, Agnieszka; Yoo, Hong Il
    Published: November 2023
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    We study the heritability of risk, uncertainty, and time preferences using a field experiment with a large sample of adult twins. We also offer a meta-analysis of existing findings. Our field study introduces a novel empirical approach that marries... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4
    Inter-library loan:
    No inter-library loan

     

    We study the heritability of risk, uncertainty, and time preferences using a field experiment with a large sample of adult twins. We also offer a meta-analysis of existing findings. Our field study introduces a novel empirical approach that marries behavioral genetics with structural econometrics. This allows us to, for the first time, quantify the heritability of economic preference parameters directly without employing proxy measures. Our incentive-compatible experiment is the first twin study to elicit all three types of preferences for the same individual. Compared to previous studies, we find a greater role of genes in explaining risk and uncertainty preferences, and of the shared familial environment in explaining time preferences. Time preferences appear more important from policy and parenting perspectives since they exhibit limited genetic variation and are more than twice as sensitive to the familial environment as risk and uncertainty preferences.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/282760
    Series: Discussion paper series / IZA ; no. 16633
    Subjects: risk preferences; ambiguity aversion; time preferences; twin study; genetics
    Scope: 1 Online-Ressource (circa 72 Seiten), Illustrationen
  2. The heritability of trust and trustworthiness depends on the measure of trust
    Author: Kettlewell, Nathan; Tymula, Agnieszka
    Published: September 2021
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Using a large sample of 1,120 twins, we estimated the heritability of trust using four distinct measures of trust - domain-specific political trust, general self-reported trust, and incentivized behavioral trust and trustworthiness. Our results... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4
    Inter-library loan:
    No inter-library loan

     

    Using a large sample of 1,120 twins, we estimated the heritability of trust using four distinct measures of trust - domain-specific political trust, general self-reported trust, and incentivized behavioral trust and trustworthiness. Our results highlight the importance of measuring trust in a context because its heritability differs substantially across the four measures, from 0% to 37%. Moreover, we provide the first evidence on the heritability of political trust which we estimate to be 37%. Furthermore, like the heritability, the environmental correlates of trust also vary across the different measures with political trust having the largest set of environmental covariates. The perceptions of COVID-19 health and income risks are among the unique correlates of political trust, with participants who are more worried about financial and health consequences of COVID-19, trusting politicians less, stressing the importance of trust in political leaders during a health crisis.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/245785
    Series: Discussion paper series / IZA ; no. 14734
    Subjects: trust; heritability; genetics; twin study
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen