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Of rotten kids and Rawlsian parents: The optimal timing of intergenerational transfers

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Author Info

  • Hendrik JØrges

    () (Department of Economics, University of Dortmund, D-44221 Dortmund, Germany)

Abstract

This paper shows that altruistic parents with utilitarian preferences may fare better if they transfer resources to their children early in life instead of delaying the bulk of transfers until after their death. Moreover, the outcome of the analysed "family transfer game" is not Pareto-efficient in the case of bequests. However, if altruistic parents hold Rawlsian preferences, they will be indifferent between gifts and bequests, and Pareto-efficiency is always obtained. In intermediate cases of Atkinson-type welfare functions, welfare losses of bequests compared to gifts disappear as the aversion to inequality converges to infinity.

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 13 (2000)
Issue (Month): 1 ()
Pages: 147-157

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Handle: RePEc:spr:jopoec:v:13:y:2000:i:1:p:147-157

Note: Received: 3 November 1998/Accepted: 4 May 1999
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Related research

Keywords: Altruism; bequests; gifts;

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Cited by:
  1. Shim, Ilhyock & Sharma, Sunil & Chami, Ralph, 2008. "A Model of the IMF as a Coinsurance Arrangement," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(14), pages 1-41.
  2. Epstein, Gil S., 2006. "Extremism within the Family," IZA Discussion Papers 2199, Institute for the Study of Labor (IZA).

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