An Incentive Model of the Effect of Parental Income on Children
提出一个激励模型，认为低收入限制了父母用金钱激励塑造子女行为的能力，导致更多依赖体罚等非金钱手段，从而解释了父母收入与子女表现的正向关系。
Economists explain the positive relationship between parental income and children's outcomes using an investment model. Building on work in psychology and sociology, this paper emphasizes the importance of child-rearing practices, which vary with income. I argue that parents' ability to mold their children's behavior through pecuniary incentives is limited at low incomes, leading to lower outcomes and increased reliance on nonpecuniary mechanisms such as corporal punishment. My model generates a positive relationship between parental income and children's outcomes especially at low incomes and endogenously produces a relationship between parental income and child-rearing practices. Empirical work confirms these implications.