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We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal … 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 …
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Expenditure on health and safety is a substantial part of GDP, but public agencies in many countries, including Australia, have only qualitative views about the value of life and health. Also, despite considerable work by economists on the value of life and health in recent years, some important...
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