Economic Behavior, Economic Freedom, and Entrepreneurship
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Economic Behavior, Economic Freedom, and Entrepreneurship

Edited by Richard J. Cebula, Joshua Hall, Franklin G. Mixon Jr and James E. Payne

Expert editors add to an important field of research, the economics of entrepreneurship, and explore how institutions influence entrepreneurial behavior. This book provides comprehensive and contemporary insights into the interaction between economic behavior of firms and households, economic freedom, and entrepreneurship, and how it generates an environment with greater opportunities for growth and development for individuals, households, and private-sector firms.
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Chapter 10: The impact of property confiscation experiences on individual patience in transition economies: an exploratory study

Steven B. Caudill, Stephanie O. Crofton, James E. Long, Franklin G. Mixon and Mary Greer Simonton

Abstract

Using data from a UCLA survey of adults living in transition economies in Eastern Europe that was carried out in 1993, we explore the potential impact of property destruction, confiscation, and collectivization experiences on the inter-generational transmission of patience across the populations of transition economies in Eastern Europe. To do so, we make use of an index of impatience constructed from each individual’s decision to purchase expensive consumer (luxury) items. We find some evidence that offspring from families suffering property losses are more impatient than others. Second, given that the results differ across countries, a single explanation such as the intergenerational transmission of impatience is insufficient.

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