We use retrospective life-history data from the Survey of Health, Ageing and Retirement in Europe to assess parental altruism through the effect of parental resources and home characteristics on the age at which individuals now aged 50 or more left the nest in 13 countries. We show that the nest...

Standard homo economicus lives in a world of complete markets and maximizes utility which is a function of his personal consumption. This approximation cannot account for parents making transfers to adult children, children taking care of old parents, nor for gifts, inheritance and many other...