Adolescent Time Preferences Predict Lifetime Outcomes
利用瑞典纵向数据，研究13岁儿童的时间偏好与五十年后社会经济结果的关系，发现高折现率与较差学业、健康、劳动供给和收入相关，且男性和高能力儿童从未来导向中获益更多。
This study investigates the relationship between time preferences and lifetime social and economic outcomes. We use a Swedish longitudinal data set that links information from a large survey on children's time preferences at age 13 to administrative registers spanning over five decades. Our results indicate a substantial adverse relationship between high discount rates and school performance, health, labour supply and lifetime income. Males and high-ability children gain significantly more from being future oriented. These discrepancies are largest regarding outcomes later in life. We also show that the relationship between time preferences and long-run outcomes operates through early human capital investments.