Bruce, Neil; Waldman, Michael - In: The Quarterly Journal of Economics 105 (1990) 1, pp. 155-65
A familiar result in the economic theory of the family is Becker's rotten-kid theorem. This theorem states that altruism by a family member will lead other selfish members to act efficiently from the family viewpoint. The authors extend Becker's one-period model to two periods and show that...