The Agricultural Origins of Time Preference
利用哥伦布大交换中适宜作物种植的自然实验,研究发现前工业时代有利于农业投资的农业气候特征,通过选择、适应和学习过程,对当代长期导向的盛行产生了持续的正面影响,并影响了技术采用、教育、储蓄和吸烟等经济行为。
This research explores the origins of observed differences in time preference across countries and regions. Exploiting a natural experiment associated with the expansion of suitable crops for cultivation in the course of the Columbian Exchange, the research establishes that pre-industrial agro-climatic characteristics which were conducive to higher return to agricultural investment triggered selection, adaptation, and learning processes that generated a persistent positive effect on the prevalence of long-term orientation in the contemporary era. Furthermore, the research establishes that these agro-climatic characteristics have had a culturally embodied impact on economic behavior such as technological adoption, education, saving, and smoking.