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Basic Reading

• WBLY chapter 2
• EITHER LWF Chap 2

OR Furnham (1996) 'The economic socialization of children' in P. Lunt & A. Furnham (Eds.) Economic socialization .......TRC/Short
OR Cram, F, & Ng, S.H. (1999). Consumer socialisation. Applied Psychology,  48(3) 297-312
• FA chapter 3 (Young people, socialisation, and money)
• Elgar. pp. 175-181 ('Economic socialization', by Roland-Levy) and pp. 72-75 ('Children's saving' by Webley)
• Berti, A. [& Bombi, A.] (1988). Child's construction of economics [Chap 1]. .......TRC/Box
• Leiser et al (1990), Children's economic socialization: Summarizing the cross-cultural comparison of ten countries, JoEP 11, 591-614
• Webley & Lea (1993). Towards a more realistic psychology of economic socialization. JOEP, 14, 461-472. .......BJ
• Cummings & Taebel (1978). The economic socialization of children: a neo-Marxist analysis. Social Problems, 26, 198-210 .......BJ
• Harbaugh et al. (2002). Various papers on the economic behavior of children. See Bill Harbaugh's home page http://harbaugh.uoregon.edu

Additional material

1. Children's economic behaviour

• Furnham A. (1999). The saving and spending habits of young people. Journal of Economic Psychology, 20, 677-697
• Webley, Levine & Lewis (1991). A study in economic psychology: Children's saving in a play economy. Human Relations, 44, 127-146 .......BJ
• Sonuga-Barke & Webley (1993). Children's saving, chap 3 (The development of functional saving in a play economy).
• Webley (1996). Playing the market: the autonomous economic world of childhood, in P. Lunt & A. Furnham (Eds.), Economic socialisation 330.019 LUN Short
• "L'argent de poche des enfants" in Notre Banque Magazine. Box
• Ford (1990). Credit and default among young adults: An agenda of issues. J. Consumer Policy, 13, 133-154 .......Box
• Webley & Plaisier, Z (1999). Mental accounting in childhood.Children's Social and Economics Education. Box
• Doss et al (1995). Middle school children's sources and view of money. J. Consumer Affairs, 29(1), 219-241 .......BOX
• Murnighan, J. K., & Saxon, M. S. (1998).  Ultimatum bargaining by children and adults.  Journal of Economic Psychology, 19, 415-445.
• Krause & Harbaugh (1997). Economic experiments that you can perform at home on your children. http://harbaugh.uoregon.edu/index.htm#Research
• Otto & Webley (2001). Children's saving, In Environment and Well-being, IAREP Conference proceedings 215-219

2. Children's understanding of the economic world

• Thompson, D.R. & Siegler (2000) Buy low, sell high: The development of an informal theory of economics. Child Development 71, 660-677
• Berti & Bombi (1988). The child's construction of economics. chap 2 ......Box
• Papers in this special issue on economic socialization, Journal of Economic Psychology, Vol 11, part 4.......BJ also online.
• Burgard et al (1989). Children's representations of economic inequality: A replication. British Journal of Developmental Psychology, 7, 275-287 .......BJ
• Nakhaie (1993). Knowledge of profit and interest among children in Canada. JOEP, 14, 147-160.
• Bonn et al (1999). South African children's views of wealth, unemployment, poverty and inequality. Journal of Economic Psychology, 20(5), 593-612
• Tatkhashi & Hatano (1994). Understanding of the banking business in Japan: is economic prosperity accompanied by economic literacy? Br. J. Devel. Psychol. 12 585-590. .......BJ
• Goszczyñska (1996), Home economic education of Polish adolescents. IAREP conference proceedings, Tome 1, 215-228. .......Box
• Webley, P. (2002) Children's understanding of economics. - Box

3. Children and the domestic economy

• Goodnow (1988). Children's household work. Psychological Bulletin, 103, 5-26 .......BJ
• Hill (1992). Children's role in the domestic economy. J. Cons. Stud. Home Econ., 16, 33-50. .......Box
• Lassarre (1996). Consumer education in French families and schools. In P. Lunt & A. Furnham (Eds.), Economic socialisation .......330.019LUN (Short)
• Zabukovec & Polic (1994) Children's economic socialization after four years. IAREP conference proceedings Vol 3, 1176-1193 .......330.019INT
• Pliner et al (1994) Children's consumer behaviour in a store with unattractive merchandise: The "caveat emptorium". JoEP 15, 449-465. and online

4. Pocket money

• Baele, A., & Vlerick, P. (2000). Pocket money and saving: a qualitative study. IAREP/SABE Vienna conference proceedings, pp 35-39
• Feather (1991), Variables relating to the allocation of pocket money to children, Br. J. Soc. Psychol., 30, 221-234 .......BJ
• Abramovitch et al (1991). Children and money: Credit v. cash. JOEP, 12, 27-45.
• Walker (1994) Economic man's missing teenage years. IAREP conference proceedings, Vol 2, 581-596. .......330.019INT
• Warton & Goodnow (1995). Money and children's household jobs: parents' views of their interconnections. International Journal of Behavioral Development, 18, 335-350.
• Mortimer et al (1994). Economic socialization in the American family: The prevalence, distribution and consequences of allowance arrangements. Family Relations, 43(1), 23-29. .......BOX

Questions for discussion

1. What are the main economic problems that children have to solve?
2. Is the economic world of children merely a pale reflection of the adult economic world?
3. How is the process of economic socialization best conceived?
4. How much pocket money would you give to your children, under what conditions, and why?

Paul Webley

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(access count since 11th January 1997). 
Document revised 23rd October 2002 (PW)

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