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No, you've forgotten that there are two incomes in question, parents and child. Parents' income and child's willpower are both correlated with child's income an
by xapata 8y ago
No, you've forgotten that there are two incomes in question, parents and child. Parents' income and child's willpower are both correlated with child's income and each other.
- eanzenberg 8y agoI think it's already well proven that parents' income is highly correlated with childrens' income, for a variety of reasons. It's pretty safe to use them interchangeably
- xapata 8y agoNot if you're trying to identify the effect of a child's willpower on the child's future income. Gotta control for those confounders and prevent endogeneity.