Time preferences and fertility: Evidence from Italy

Time preferences, also referred to as impatience, is a personal characteristic that has been found to influence different types of decisions, from financial investments to schooling decisions. The present study is the first that empirically explores whether this trait represents a determinant of hum...

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Bibliographic Details
Published in:Demographic research 2021, Vol.44, p.1185-1228
Main Authors: Bellani, Daniela, Arpino, Bruno, Vignoli, Daniele
Format: Article
Language:English
Subjects:
Adult children
Analysis
Behavior
Biology
Children
Decision making
Decisions
determinants
Discounting
Educational attainment
Expected utility
Family income
Fertility
Fertility, Human
forward looking
Households
Influence
italy
Personal preferences (Social sciences)
preferences
Progressions
Psychological aspects
Regression analysis
Regression models
Reproductive behavior
Research Article
Social aspects
Socioeconomic factors
Statistical analysis
Time management
Uncertainty
Wealth
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Summary:Time preferences, also referred to as impatience, is a personal characteristic that has been found to influence different types of decisions, from financial investments to schooling decisions. The present study is the first that empirically explores whether this trait represents a determinant of human reproductive behaviors. Fertility decisions, as all life actions, imply a balancing of anticipated costs and benefits whose expectations are formed under uncertainty. Fertility research has addressed the backward reasonings (e.g., socioeconomic, psychological, biological factors) influencing fertility decisions. Yet, the role of forward factors, such as the preference for immediate but lower benefits versus future but higher benefits, in influencing fertility decisions has been overlooked. Data are from the Survey on Household Income and Wealth carried out by the Bank of Italy every two years on a sample of about 8,000 households. In particular, we make use of a question included in the 2004, 2008, 2010, and 2012 waves to examine whether, controlling for backward factors, impatience affects parity progressions. The empirical finding points to the importance of considering time discounting preferences (as well as other forward-looking factors) in fertility research to gain a more complete understanding of fertility behaviours.
ISSN:1435-9871
2363-7064
1435-9871
DOI:10.4054/DEMRES.2021.44.50