A Study On The Influence Of Family Social Economic Status On Children’s Economic Preference In China

After the reform and opening up,the Chinese economy has developed rapidly,but the wealth gap is still relatively large.For this reason,the 20 th National Congress of the Communist Party of China(CPC)once again emphasized the "people centered development thought" and worked hard to promote "common prosperity".To achieve this goal,it is necessary to promote comprehensive human development,allowing children from different groups,especially those at the bottom of society,to have equal opportunities for development in various fields,thereby blocking the intergenerational transmission of poverty.Existing research usually uses socioeconomic status to distinguish different groups.This concept includes economic status,social status,and reputation,as well as the physical capital,human capital,and social capital that a person can obtain.Its connotation is more abundant,so this article also uses this concept to describe different groups of children.In terms of children’s development,existing research usually focuses on intellectual aspects such as academic performance,but less on risk preference,time preference and social preference.In behavioral and experimental economics,these three preferences are commonly referred to as economic preferences.Research has shown that economic preferences can affect children or adolescents’ alcohol abuse,smoking,body mass index,savings tendencies,grades,as well as building friendships and maintaining peer relationships.More importantly,these preferences are relatively stable throughout a person’s life,while in childhood they may be influenced by external interventions and have a predictive effect on adult life outcomes.Therefore,if children from different families with socioeconomic status have different economic preferences,they are likely to further develop into differences in their wealth,health,occupation and other aspects of adulthood,resulting in inequality and impeding the realization of common prosperity.Therefore,if we want to fundamentally solve the above problems caused by differences in economic preferences,we need to clarify the relationship between socioeconomic status,intergenerational transmission and economic preferences.That is,(1)Is there a specific relationship between children’s economic preference and family socioeconomic status,and what transmission path exists between this relationship?(2)Is there intergenerational transmission of economic preferences?(3)Does high-quality education help improve differences in economic preferences and block intergenerational transmission of economic preferences?In this paper,the methods of experimental economics are used to study the above problems.That is,the risk preference,altruism preference(social preference)and time preference of children and their parents are measured through behavioral experiments.Then it analyzes the relationship and related transmission mechanism between family socioeconomic status,intergenerational transmission and children’s economic preference.Finally,this article also discusses the possible effects of gender,grade,school education,and institutional factors on children’s economic preferences.Through the analysis of this paper,the following conclusions are drawn:(1)After receiving high-quality education,family socioeconomic status still has varying degrees of influence on risk preference and altruism preference.Specifically,children with high socioeconomic status are more altruistic and less adventurous;The influence on time preference is not significant,which may be due to the influence of high-quality quality education on the subjects.(2)The difference between risk preference and altruism preference among children with socioeconomic status in different families is mainly transmitted through parenting methods and quality of companionship.(3)The role of high-quality education is not comprehensive,which may be due to the limited focus on economic preferences in existing education.(4)Gender and age also have a certain degree of impact on economic preferences.(5)Institutions may have a direct or indirect impact on the formation of economic preferences,especially social preferences(altruistic preferences).Based on the above research conclusions,this paper puts forward the following suggestions:(1)Pay more attention to children with low family socioeconomic status and provide them with more high-quality education.(2)The government should not only focus on school education when promoting educational equity,but also strengthen the teaching of parenting methods to parents.(3)Improve the content of quality education and include more content related to economic preferences.(4)Relevant departments should fully consider the economic preferences of children of different ages and genders when designing textbooks.(5)Improve the distribution and child welfare system to better align with educational policies.