Do you give your kids an allowance? How do you determine? Do you make them do chores, or can they do supplemental chores for more money? Is there any economic weight/research behind any one approach?
My kids each get an allowance. They get 20 cents per year of age, which means the eldest gets $2.20 and the youngest gets $1.20. These amounts are much smaller than the average, but the thought is to allow a little over a candy bar/week for the young one. They have to do chores as members of the family and we do not currently have supplemental chores for them to do for money, though last summer I paid the eldest minimum wage to do some research assistance for me.
To my knowledge this is not a topic that economists have tackled in the top journals. Here’s a couple of economic psychology articles that look a bit flawed, but this is probably a difficult topic to study. https://www.sciencedirect.com/science/article/abs/pii/016748709190042R and https://www.sciencedirect.com/science/article/abs/pii/S0167487014000580 . None of the articles that cite that first one look particularly relevant.