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- Title
Self–enforcing Intergenerational Transfers and the Provision of Education.
- Authors
Anderberg, D.; Balestrino, A.
- Abstract
This paper considers intra-family financing of human capital under the assumptions that individuals are selfish and binding contracts are not feasible. Cooperation among family members is possible through a family norm (a family 'social capital') which prescribes the obligations to be met at each stage in life and sanctions for those who deviate. We characterize the set of self-enforcing transfers and show that there is a downward bias in the family provision of education. This gives a rationale for public action as a remedy to the lack of commitment between selfish family members.
- Subjects
FINANCE; HUMAN capital
- Publication
Economica, 2003, Vol 70, Issue 277, p55
- ISSN
0013-0427
- Publication type
Article
- DOI
10.1111/1468-0335.t01-1-00271