earners and low earners with the proportion of types being determined endogenously. The number of children is … deterministically chosen but the children’s future ability is in part stochastic, in part determined by the family background, and in … attainment of his children on the proportion of high-ability individuals in the steady state. Our results include: (i …

earners and low earners with the proportion of types being determined endogenously. The number of children is … deterministically chosen but the children’s future ability is in part stochastic, in part determined by the family background, and in … attainment of his children on the proportion of high-ability individuals in the steady state. Our results include: (i …

care provided to their parents and education expenditures for their children. The young enjoy their education, while the … old may leave a bequest to their children. Within each period the three generations play a "game" inspired by Becker … period and that parents invest in the education of their children. We show that Becker’s rotten kids theorem holds for the …

scenario concerning the “harmony” of family relations. Children are purely selfish, and neither side can make credible …

while children's altruism is not. The traditional topping up and opting out policies are special cases of ours. Both total … and informal care should increase with the children's level of altruism. This obtains under full and asymmetric … explained by the need to provide incentives to high-altruism children. The implementing contract is always such that social care …

information structure and labor supply decisions follow the Mirrleesian tradition. However, while the household's total …