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Replication data for: Human Capital and the Lifetime Costs of Impatience

Resource Type
  • Cadena, Brian C.
  • Keys, Benjamin J.
Publication Date
  • Abstract

    In this paper, we examine the role of impatience in human capital formation—arguably the most important investment decision individuals make during their lifetimes. We focus on a set of investment behaviors that cannot be explained solely by variation in exponential discounting. Using data from the NL SY and a straightforward measure of impatience, we find that impatient people more frequently invest in dynamically inconsistent ways, such as dropping out of college with one year or less remaining. The cumulative investment differences result in the impatient earning 13 percent less and expressing more regret as this cohort reaches middle age. (JEL D91, I26, J24, J31)
  • Is supplement to
    DOI: 10.1257/pol.20130081 (Text)
  • Cadena, Brian C., and Benjamin J. Keys. “Human Capital and the Lifetime Costs of Impatience.” American Economic Journal: Economic Policy 7, no. 3 (August 2015): 126–53.
    • ID: 10.1257/pol.20130081 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Cadena, Brian C.; Keys, Benjamin J. (2015): Replication data for: Human Capital and the Lifetime Costs of Impatience. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.