Altruistics bequests and non-negative savings
This paper on the class of models studiyng the interaction between an altruistic benefactor and a selfish recipient. Bequest is the only transfer from an altruistic parent to his selfish son and we assume that it is not a valid collateral for bank loans. This is equivalent to addding a non-negativity constraint on savings to the standard bequest model. A crucial mechanism at work is that the son's choice of a level of action can seriously dwarf his budget set.
(This abstract was borrowed from another version of this item.)
Volume (Year): 69 (2003)
Issue (Month): 4 ()
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