Poverty and aspirations failure

We develop a theoretical framework to study the psychology of poverty and ‘aspirations failure’, defined as the failure to aspire to one’s own potential. In our framework, rich and the poor persons share the same preferences and same behavioral bias in setting aspirations. We show that poverty can e...

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Bibliographic details
Volume: 126
Main Author: Dalton, P.S
Ghosal, S
Mani, A
Format: Journal Article
Language: English
Zielgruppe: Trade
Place of publication: OXFORD OXFORD UNIV PRESS 01.02.2016
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published in: The Economic journal (London) Vol. 126; no. 590; pp. 165 - 188
Related: Department of Economics
Research Group: Economics
ORCID: 0000-0003-3506-1092
Data of publication: 2016-2
ISSN: 0013-0133
EISSN: 1468-0297
Discipline: Economics
Bibliography: We thank the editor and three anonymous referees for helpful comments and suggestions. We are also grateful to participants at the University of Bath and Universidad del Rosario seminars, Warwick Workshop on Aspirations and Poverty, CAGE workshop on Inequality, the CESIFO Summer Institute on Behavioral Welfare Economics, the Annual Meetings of the AAEP, the RES meetings and the UNU‐WIDER conference on Poverty and Behavioral Economics for their feedback. Special thanks go to Daniel Aromi, Doug Bernheim, Maria Cubel, Sharun Mukand, Sendhil Mullainathan, Jens Prufer and Vijayendra Rao for useful discussions and suggestions. S. Ghosal and P. Dalton acknowledge support from ESRC‐DFID grant RES‐167‐25‐0364. Any remaining error is responsibility of the authors.
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