Altruistically motivated transfers under uncertainty

Barczyk, Daniel; Kredler, Matthias

Publication:
Altruistically motivated transfers under uncertainty

dc.affiliation.dpto	UC3M. Departamento de Economía	es
dc.contributor.author	Barczyk, Daniel
dc.contributor.author	Kredler, Matthias
dc.date.accessioned	2022-06-28T14:27:53Z
dc.date.available	2022-06-28T14:27:53Z
dc.date.issued	2014-11-01
dc.description.abstract	How do families behave dynamically? We provide a framework for studying economic problems in which family behavior is essential. Our key innovation is the inclusion of imperfectly altruistic agents in an otherwise standard consumption-savings problem with exogenous income risk. This gives rise to altruistic transfers and strategic behavior in the consumption&-savings decision. We study the Markov-perfect equilibrium that arises from the limit of equilibria in a sequence of finite games. The equilibrium's transfer patterns are empirically plausible. Furthermore, agents overconsume relative to the social optimum. In contrast to two-period models, both the richer and the poorer players overconsume long before transfers actually occur. The poorer agent also faces incentives to engage in excessive risk-taking because losses from a gamble are absorbed by both while gains are enjoyed alone.	en
dc.identifier.bibliographicCitation	Barczyk, D., & Kredler, M. (2014). Altruistically motivated transfers under uncertainty. Quantitative Economics, 5, pp. 705–749	en
dc.identifier.doi	https://doi.org/10.3982/QE353
dc.identifier.issn	1759-7323
dc.identifier.publicationfirstpage	705	es
dc.identifier.publicationissue	3	es
dc.identifier.publicationlastpage	749	es
dc.identifier.publicationtitle	Quantitative Economics	en
dc.identifier.publicationvolume	5	es
dc.identifier.uri	https://hdl.handle.net/10016/35319
dc.identifier.uxxi	AR/0000015949
dc.language.iso	eng	es
dc.publisher	John Wiley & Sons, Inc.	en
dc.rights	© John Wiley & Sons, Inc.	en
dc.rights	Atribución-NoComercial 3.0 España	*
dc.rights.accessRights	open access	en
dc.rights.uri	http://creativecommons.org/licenses/by-nc/3.0/es/	*
dc.subject.eciencia	Economía	es
dc.subject.other	Altruism	en
dc.subject.other	Inter vivos transfers	en
dc.subject.other	Consumption-savings decision	en
dc.subject.other	Differential games	en
dc.subject.other	C73	es
dc.subject.other	D1	es
dc.subject.other	D64	es
dc.subject.other	E21	es
dc.title	Altruistically motivated transfers under uncertainty	en
dc.type	research article	*
dc.type.hasVersion	VoR	*
dspace.entity.type	Publication