The upbringing of children is modeled as a modified principal agent problem in which children attempt to maximize their own well-being when faced with a parenting strategy chosen by the parent, to maximize parent's perception of family well-being. Thus, children as well as parents are players, but children have higher discount rates than parents. The simultaneity of parenting and child behaviour is confirmed using the 1994 Canadian National Longitudinal Survey of Children.
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Arleen Leibowitz, 1974.
"Home Investments in Children,"
NBER Chapters,
in: Marriage, Family, Human Capital, and Fertility, pages 111-135
National Bureau of Economic Research, Inc.
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Gary S. Becker & Nigel Tomes, 1994.
"X. Human Capital and the Rise and Fall of Families,"
NBER Chapters,
in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition), pages 257-298
National Bureau of Economic Research, Inc.
[Downloadable!]
Arleen Leibowitz, 1974.
"Home Investments in Children,"
NBER Chapters,
in: Economics of the Family: Marriage, Children, and Human Capital, pages 432-456
National Bureau of Economic Research, Inc.
[Downloadable!]
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
repec:bep:eaptop:v:4:y:2004:i:1:p:1161-1161 is not listed on IDEAS
Shelly Lundberg & Jennifer Romich & Kwok Ping Tsang, 2007.
"Decision Making By Children,"
Working Papers
UWEC-2007-24, University of Washington, Department of Economics.
[Downloadable!]