{"title":"Intergenerational preference transmission in physician families during the pandemic: Theory and evidence","authors":"","doi":"10.1016/j.chieco.2024.102298","DOIUrl":null,"url":null,"abstract":"<div><div>We examine the intergenerational transmission of economic preferences among physicians by analyzing the altruistic and risk preferences of medical students and one of their parents through incentivized experiments in Wuhan. Our findings reveal that altruism in parents is a strong predictor of similar traits in their children, demonstrating the <em>intergenerational transmission</em> of pro-social traits. Moreover, these children are more likely to choose a medical major, reflecting a tendency to <em>self-select</em> into the medical field based on altruistic inclinations. This self-selection effect has been augmented post-pandemic. These medical families are more likely to form a distinct <em>family cluster</em> characterized by higher levels of risk-taking and altruistic preferences. We propose a theoretical framework capturing the intergenerational preference transmission and family-wise self-selection among future physicians. Our research has important policy implications, suggesting that enhancing intra-household support can effectively address the chronic labor shortfall in the medical industry.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":null,"pages":null},"PeriodicalIF":5.2000,"publicationDate":"2024-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"中国经济评论","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1043951X24001871","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We examine the intergenerational transmission of economic preferences among physicians by analyzing the altruistic and risk preferences of medical students and one of their parents through incentivized experiments in Wuhan. Our findings reveal that altruism in parents is a strong predictor of similar traits in their children, demonstrating the intergenerational transmission of pro-social traits. Moreover, these children are more likely to choose a medical major, reflecting a tendency to self-select into the medical field based on altruistic inclinations. This self-selection effect has been augmented post-pandemic. These medical families are more likely to form a distinct family cluster characterized by higher levels of risk-taking and altruistic preferences. We propose a theoretical framework capturing the intergenerational preference transmission and family-wise self-selection among future physicians. Our research has important policy implications, suggesting that enhancing intra-household support can effectively address the chronic labor shortfall in the medical industry.
期刊介绍:
The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.