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produce output under uncertainty, and siblings may transfer output to each other. We show that altruism has a non …-monotonic effect on effort. Equilibrium effort decreases (increases) with altruism at low (high) levels of altruism. We study how this … climates than in harsher climates, and that the evolutionarily robust degree of altruism is positive but less than one half …
Persistent link: https://www.econbiz.de/10012728516
Family businesses make up forty percent of the Fortune 500 companies in the US, generate about two-thirds of the German GDP, employ about one-half of the labor force in Britain, and account for the majority of the private economies in developing countries. This paper develops a theory of family...
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Previous work on the effects of private income transfers has been confined to intra-family interactions. One implication of this work is that such transfers benefit recipients by insuring against labor market risks. Allowing for equilibrium labor market responses, however, one would expect the...
Persistent link: https://www.econbiz.de/10014155765
Previous work on the effects of private income transfers has been confined to intra-family interactions. One implication of this work is that such transfers benefit recipients by insuring against labor market risks. Allowing for equilibrium labor market responses, however, one would expect the...
Persistent link: https://www.econbiz.de/10014155766
-linked individuals take to avoid an accident increases with the degree of altruism. If the degree of altruism is sufficiently high, an … economy with nonmarket insurance yields higher social welfare than an economy without nonmarket insurance. As altruism …
Persistent link: https://www.econbiz.de/10014112113
from patient interests, especially when providers are motivated more by profits than by altruism. We investigate how profit …
Persistent link: https://www.econbiz.de/10014486242