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 …

in three variations: a 'decentralized' scheme, in which the parents control the purse-strings, but the children dispose …, and families may choose more schooling than the minimum required by law. -- Family decision-making ; youth ; human capital …