Altruism, Liquidity Constraint, and Investment in Education
Altruism, Liquidity Constraint, and Investment in Education
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利他主义、流动性约束和教育投资
DOI：
10.1111/jpet.12208
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发表时间：
2016
期刊：
影响因子：
--
通讯作者：
T. Sato
中科院分区：
文献类型：
--
作者：
T.Ihori ,K.Kamada;T. Sato
在日本和其他东亚社会，家庭每个孩子的教育支出（特别是私人辅导支出）急剧增加，可能已经到了过度的程度。本文提出了许多家庭大量投资教育的理由，而其他相关文献很少讨论过度教育投资的可能性。将利他主义和流动性约束引入到一个模型中，在这个模型中，父母和孩子相互作用，以确定对孩子教育的投资，我们表明，教育投资可能是过度的，除非家庭是深刻的流动性约束。我们的结果扩展了以前的研究结果，将撒玛利亚人的困境。我们还讨论了旨在弥补教育投资效率低下的公共政策。
In Japan and other East Asian societies, household educational expenditures per child (especially private tutoring expenditures) have increased sharply, perhaps to an excessive degree. This paper suggests a rationale for many families to invest extensively in education, whereas other relevant literature rarely addresses the possibility of excessive educational investment. Introducing altruism and liquidity constraints into a model in which parent and child interact for determining investment in the child's education, we show that educational investment may be excessive unless the family is profoundly liquidity‐constrained. Our result extends previous findings incorporating the Samaritan's Dilemma. We also discuss public policy designed to remedy the inefficiency in educational investment.