By Oded Stark
How do altruistic hyperlinks impact allocative habit and well being? Can the techniques of transmission and possible acquisition of parental features bring about a good equilibrium the place all brokers are altruists? Why do teenagers provide their mom and dad with consciousness and care? Does the timing of the intergenerational move of the family's effective asset have an effect on the recipient's incentive to procure human capital? Why do migrants remit? Altruism and past presents solutions to those and comparable questions. moreover, it strains the various industry repercussions of the intrafamilial, intergenerational, and intragroup transfers and exchanges that it types.
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Additional resources for Altruism and Beyond: An Economic Analysis of Transfers and Exchanges within Families and Groups (Oscar Morgenstern Memorial Lectures)
His utility will be V C. Now, if the father has F 1 and S 0, and if the father's preferences are strictly convex, he will choose CF CS Ca2 and his utility will be V Ca2 V Ca2. If preferences are strictly convex and V 0 ! 0, we have V Ca2 V Ca2 b V C, a case where increase in altruism has a positive effect on utility. However, if preferences are strictly convex and V 0 ` 0, then depending on the shape of the V C function and on C, V Ca2 ` 12 V C, so that again, as we raise the father's altruism toward his son, the father may be worse off.
If anticipated future bequests motivate behavior only mildly, or not at all, the parent may have little economic leverage for enforcing an implicit long-term contractual arrangement. The bequest motive might be particu51 Altruism and beyond larly weak in nonwealthy families, and may not work at all when testamentary freedom is precluded by law. Another possible enforcement mechanism is recourse to the legal power of the courts and the state. But in many countries, including the United States, the courts rarely become involved in enforcing such intergenerational arrangements as repayment of private intrafamilial loans (Shanas and Streib ).
More concretely, though, our model predicts that in a country such as India, where typically daughters do not inherit the family's land but sons do, a rising life expectancy of the parents ± even if interpreted by the children as a signal that their own life expectancy will be longer ± has a stronger effect on human capital formation by boys (two effects are operative) than by girls. Furthermore, consider the case of societies characterized by ``perfect primogeniture'' ± the eldest son receiving all the bequest.
Altruism and Beyond: An Economic Analysis of Transfers and Exchanges within Families and Groups (Oscar Morgenstern Memorial Lectures) by Oded Stark