Galton versus the Human Capital Approach to Inheritance
比较了加顿的遗传继承模型与贝克尔的人力资本模型,利用PIS、SCF和NLSY等微观数据检验了人力资本方法的九个独特含义,发现其中四个被否定、两个被验证、三个结果混合,并探讨了经济学扩展对继承预测的改进。
A century ago, Francis Galton proposed a simple yet powerful model of inheritance. Gary Backer's human capital model is often used to analyze important empirical and policy questions, but does it dominate Galton's from a positive point of view? I derive nine implicatiions of the human capital approach that are distinct from Galton's. Evidence from the PIS, SCF, and NLSY micro data sets as well as results reported in previous literatures suggest that four of the unique implications are refuted. two implications are verified, and mixed results are obtained for three others. Some extensions of economics recently developed by Becker and others, when applied to inheritance, may improve economics' predictions.