Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 25, 2017 erstellt
Beschreibung:
In an abstract competitive status preference model, we find that market prices of parental human capital investments determine the gross substitute-complement property primarily between those investments and children's genetic endowments. This property depends on the market price of human capital investment, endowments, public human capital investment, and a population inequality measure. Then, we examine Solon's (2004) paper, based on Becker-Tomes (1986). Using the same functions as in Solon's model except for a general human capital technology function, we find consistency with regard to the substitute-complement property between his model and our status attainment model only for certain agent types