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

that a public policy that disregards the effects of parental time on children's human capital entails a welfare loss that …

Altruistic parents, who differ in income, make financial transfers to their children, who differ in ability. The … two policy tools: a subsidy to those who participate in education and a proportional income tax. Not all children … participate; a larger subsidy encourages participation, and a larger income tax discourages it. The parents, prior to making …

reduction in parental time devoted to children, which modifies their human capital accumulation process. We show that the result … critically depends on the assumptions on the altruistic motives behind the choice of devoting time to children …

are generally non-negligible. They also differ rather widely for the various cohort/income groups. Our stochastic …