Arbeitspapier

Culture and student achievement: The intertwined roles of patience and risk-taking

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Patience and risk-taking - two cultural traits that steer intertemporal decision-making - are fundamental to human capital investment decisions. To understand how they contribute to international differences in student achievement, we combine PISA tests with the Global Preference Survey. We find that opposing effects of patience (positive) and risk-taking (negative) together account for two-thirds of the cross-country variation in student achievement. In an identification strategy addressing unobserved residence-country features, we find similar results when assigning migrant students their country-of-origin cultural traits in models with residence-country fixed effects. Associations of culture with family and school inputs suggest that both may act as channels.

Language: Englisch

Bibliographic citation: Series: Discussion Paper ; No. 249

Classification: Wirtschaft
Analysis of Education
Cultural Economics; Economic Sociology; Economic Anthropology: General

Subject: culture
patience
risk-taking
preferences
intertemporal decision-making
international student achievement
PISA

Event: Geistige Schöpfung

(who): Hanushek, Eric Alan
Kinne, Lavinia
Lergetporer, Philipp
Woessmann, Ludger

Event: Veröffentlichung

(who): Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition

(where): München und Berlin

(when): 2020

Handle: http://hdl.handle.net/10419/222616

Last update: 10.03.2025, 11:45 AM CET

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Object type

Arbeitspapier

Associated

Hanushek, Eric Alan
Kinne, Lavinia
Lergetporer, Philipp
Woessmann, Ludger
Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition

Time of origin

2020

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