Home ›› 14 May 2022 ›› Corporate
Intergenerational persistence of economic preferences is prevalent in rural Bangladesh, said Dr Shyamal Chowdhury, Professor of Economics, University of Sydney.
At a public lecture on ‘Economic preferences across generations and family clusters: A large-scale experiment in a developing country’ organized by Economics Study Centre, University of Dhaka on Thursday, Dr Shyamal presented this revelation of his research and shed light on economic preferences, intergenerational preferences of time, risk, social and other socio-economic concepts, Economics Study Centre said in a statement.
In the lecture, Dr Shyamal focused on how well-established social inferences look different in reality through the data collected from household surveys in four districts of Bangladesh for research purposes. One of the surprising outcomes was the similar preferences of spouses without being influenced by the husbands as the social conviction stands. It was concluded that the entire marital procedure over the years beget similar preference for the sustainability of the relationship.
Another interesting realization was that both of the parents have an equivalent positive influence on the preferences of children as they are shaped at a very early age; so do the peers or societal preferences.
“It really takes a village to raise a child, nevertheless, parents play a significant part,” said Dr Shyamal.
Since the targets of the research were to identify how the participants measure success in life and what policy interventions should be taken in a developing country considering the preferences of its population; the lecture showed there exists a negative correlation between patience and IQ particularly in the poorer countries, as they have opportunity crises. The research also dealt with the question - how economic preferences are formed and if we are able to influence that since educational and labour market outcomes, financial success and health status are crucial for the economic profile of a country.
