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Parental Choices and Children’s Skills: An Agent-Based Model of Parental Investment Behavior and Skill Inequality Within and Across Generations
By: Andrés Cardona, Volume 17 (4)
Abstract: An agent-based simulation model (ABM) is developed and implemented using Python to explore the emergence of intragenerational and intergenerational skill inequality at the societal level that results from differences in parental investment behavior at the household level during early stages of the life course. Parental behavior is modeled as optimal, heuristic-based, or norm-oriented. Skills grow according to the technology of skill formation developed in the field of economics, calibrated with empirically estimated parameters from existing research. Agents go through a simplified life course. ...