motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making … standard altruism model augmented to include uncertain and liquidity constraints. These additional elements pin down the timing … heterogeneity across families in the degree of altruism. The findings strongly reject the altruism hypothesis. Redistributing one …

We consider four models of consumption that differ with respect to efficient risk-sharing and altruism. They range from … complete markets with altruism to family risk-sharing. We use a matched sample of parents and independent children available … altruism can be decisively rejected, while we fail to reject altruism and hence family risk-sharing for a subset of families …