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dc.contributor.authorJanzen, Sarah A.
dc.contributor.authorMagnan, Nicholas
dc.contributor.authorSharma, Sudhindra
dc.contributor.authorThompson, William M.
dc.identifier.citationJanzen, Sarah A. , Nicholas Magnan, Sudhindra Sharma, and William M. Thompson. "Aspirations Failure and Formation in Rural Nepal." Journal of Economic Behavior and Organization (April 2017 ). DOI: 10.1016/j.jebo.2017.04.003.en_US
dc.description.abstractAspirations, or a lack thereof, have recently gained the attention of economists as a behavioral constraint to future-oriented behavior and investment. In this paper we empirically test the theories of aspirations failure and formation articulated in Appadurai (2004), Ray (2006), and Genicot and Ray (2015) using a unique dataset from rural Nepal. We ask two questions: (1) What is the relationship between aspirations and future-oriented behavior? and (2) To what extent are an individual\'s aspirations associated with the observable characteristics of those around her? We find that aspirations correspond with future-oriented economic behavior as predicted by theory: investment in the future increases with aspirations up to a certain point, but if the gap between one\'s current status and aspirations becomes too large, investment subsequently declines. We also find that one\'s aspirations are associated with outcomes of those in her social network of higher, but not lower, status. Together these findings provide empirical evidence that aspirations, which may be a social phenomenon, can either stimulate development or reinforce poverty.en_US
dc.titleAspirations Failure and Formation in Rural Nepalen_US
mus.citation.journaltitleJournal of Economic Behavior and Organizationen_US
mus.relation.collegeCollege of Agricultureen_US
mus.relation.departmentAgricultural Economics & Economics.en_US
mus.relation.universityMontana State University - Bozemanen_US

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