Aging and an increasing retired population are a global challenge. Previous studies suggest that retirement affects economic behaviors of the retiree and his or her spouse, including consumption, health outcome, and time use. However, little is known about the intergenerational effects of...

Economists have come to understand that human choices are not only driven by self-interest but also “social preferences” – a person’s concern over resources allocated to other people. Moreover, such preferences may be affected by the environment in which such choices are made, especially...