IDEAS home Printed from https://ideas.repec.org/a/wsi/serxxx/v65y2020i02ns0217590819500127.html
   My bibliography  Save this article

Bequest And Moral Hazard In Family

Author

Listed:
  • INSOOK LEE

    (Peking University HSBC Business School, University Town, Nanshan District, Shenzhen 518055, P. R. China)

Abstract

Observed bequest patterns of widely diverse societies are polarized into unigeniture (giving all to one child) and equigeniture (dividing bequests equally). Over time, inheritance custom evolves from unigeniture to equigeniture. To explain these two observations, this paper proposes a model of bequest behavior that a parent cares welfare of his children while he wants them to expend costly and unverifiable efforts for family. All the stable equilibrium inheritance customs comprise unigeniture and equigeniture only, being consistent with the observed polarization. Moreover, a rise in the productivity of efforts for family can cause the evolution to equigeniture from unigeniture.

Suggested Citation

  • Insook Lee, 2020. "Bequest And Moral Hazard In Family," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(02), pages 533-550, March.
    • Handle: RePEc:wsi:serxxx:v:65:y:2020:i:02:n:s0217590819500127
    DOI: 10.1142/S0217590819500127
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0217590819500127
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0217590819500127?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:serxxx:v:65:y:2020:i:02:n:s0217590819500127. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ser/ser.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.