【摘要】 经典的效用折现模型将代表决策者耐心程度的时间偏好，刻画为一个外生的折现因子。为了解释时间偏好的形成过程，Becker&Mulligan(1997)提出了“耐心是一种特殊的人力资本”的观点。基于家庭耐心资本理论，本文建立了时间偏好内生化的动态一般均衡模型，并论证了其合理性。本文将该基准模型进一步拓展并应用于两类重要的文献场景中，拓展了现有文献的研究结果。在第一类场景中，本文放松了Doepke&Zilibotti(2017)的限制，在不同家庭教育方式下分析了父母利他偏好与子女耐心程度的关系；在第二类场景中，本文建立了具有Epstein-Zin效用函数、内生时间偏好和外生利率冲击的随机动态一般均衡模型，提出了风险偏好影响储蓄决策的新机制。本文为未来研究其他个人偏好的形成过程、内生化技术路径提供了分析工具。更多还原

【Abstract】 The classical discounted utility model characterizes time preference as an exogenous discount factor. In recent years, accumulating empirical evidence has underscored the profound economic and social implications of patience, conceptualized as a key non-cognitive ability. These findings highlight the need to unpack the “black box” of patience formation and integrate endogenous time preference into economic models. To address this gap, the literature has developed two primary approaches. The first strand assumes that patience depends on consumption levels or capital stock. However, this approach lacks causal interpretation. In contrast, Becker and Mulligan(1997) proposed a groundbreaking alternative: “patience is a form of human capital cultivated through educational investment”. This theory has garnered robust support from recent experimental economics research and inspired Doepke and Zilibotti(2008) to introduce the concept of “household patience capital”. Building on the household patience capital theory, this paper addresses these limitations by developing a dynamic general equilibrium model with endogenized time preference. Specifically, the model modifies the input factor of household patience capital from parental time to physical assets and expands the investment source to include the decision-maker themselves. The baseline model is further extended to two important research domains. First, relaxing the assumptions of Doepke and Zilibotti(2017), this paper conducts the analysis of the relationship between parental altruism and children’s patience under different parenting styles, shedding new light on intergenerational transmission mechanisms. Second, integrating Epstein-Zin preferences, endogenous time preference, and exogenous interest rate shocks, the paper constructs a stochastic dynamic general equilibrium model, proposing a mechanism through which risk aversion influences saving behavior—thus extending the frontier of intertemporal choice research. Finally, this study contributes to the broader literature by providing a tractable framework for endogenizing personal preferences and offers insights for future research on the endogenous formation of other non-cognitive traits and the internalization of technological trajectories. The model’s policy implications also suggest pathways for enhancing societal patience through asset-based interventions, bridging the gap between theoretical modeling and policy design.更多还原