منابع مشابه
Nonpaternalistic Intergenerational Altruism*
The paper develops a concept of equilibrium behaviour and establishes its existence in a model of nonpaternalistic intergenerational altruism. Each generation derives utility from its own consumption and the utilities of its successors. Equilibrium capital stocks are time-monotone and therefore converge to a steady state. Finally. when each generation’s utility depends on that of at least two s...
متن کاملTough love and Intergenerational Altruism
This paper develops and studies a tough love model of intergenerational altruism. We model tough love by modifying the standard altruism model (Barro, Becker 1974) in two ways. First, the child’s discount factor is endogenously determined, so that low consumption at young age leads to a higher discount factor later in her life. Second, the parent evaluates the child’s life time utility with a c...
متن کاملA Theory of Intergenerational Altruism
Modeling intergenerational altruism is crucial to evaluate the long-term consequences of current decisions, and requires a set of principles guiding such altruism. We axiomatically develop a theory of pure, direct altruism: Altruism is pure if it concerns the total utility (rather than the mere consumption utility) of future generations, and direct if it directly incorporates the utility of all...
متن کاملEndogenous fertility in a model with non-dynastic parental altruism.
An economic model of fertility choice is presented and discussed in which the utility level of agents depends upon their consumption, the number of children they have, and upon the consumption of their children. Parents are altruistic toward their children, but in a more limited sense than in the fertility model presented by Becker and Barro in 1988, in which the utility of parents depends upo...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2020
ISSN: 1556-5068
DOI: 10.2139/ssrn.3549197