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Inheritance, Equal Division and Rent Seeking

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Author Info
Roger Faith (W. P. Carey School of Business Department of Economics)
Robert Tollison (University of Mississippi)

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Abstract

We examine bequest-sharing rules where wasteful competition for bequests is possible by children. We show that equal division minimizes rent-seeking expenditures by siblings. Finally, we employ a theory of rational social norms in order to discuss the evolution of bequest norms in the Middle Ages from primogeniture to partible inheritances in some parts of Western Europe.

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Paper provided by Department of Economics, W. P. Carey School of Business, Arizona State University in its series Working Papers with number 2133341.

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Handle: RePEc:asu:wpaper:2133341

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  1. Bertocchi, Graziella, 2003. "The Law of Primogeniture and the Transition from Landed Aristocracy to Industrial Democracy," CEPR Discussion Papers 3723, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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