Does fortune favor dragons?

John Nye and Noel Johnson report:

Why do seemingly irrational superstitions persist?  This paper analyzes the widely held belief among Asians that children born in the Year of the Dragon are superior.  It uses pooled cross section data from the U.S. Current Population Survey to show that Asian immigrants to the United States born in the 1976 year of the Dragon are more educated than comparable immigrants from non-Dragon years.  In contrast, no such educational effect is noticeable for Dragon-year children in the general U.S. population.  This paper also provides evidence that Asian mothers of Dragon year babies are more educated, richer, and slightly older than Asian mothers of non-Dragon year children.  This suggests that belief in the greater superiority of Dragon-year children is self-fulfilling since the demographic characteristics associated with parents who are more able to adjust their birthing strategies to have Dragon children are also correlated with greater investment in their human capital.

An alternative link to the paper is here.  What else does this imply for how to raise your kids?


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