Bequeathing in ambiguous times

Yuta Saito

MPRA Paper from University Library of Munich, Germany

Abstract: This paper studies a model of altruistic bequest in times of ambiguity. The parent is ambiguous about future economic conditions, which affects the probability of the child’s economic success. We show that an increase in the degree of ambiguity makes the parent leave more transfer. Our model implies that the amount of parental transfer grows during a pandemic or recession.

Keywords: Bequest; Parental Transfer; Robust Control; Ambiguity (search for similar items in EconPapers)
JEL-codes: D1 D8 E21 (search for similar items in EconPapers)
Date: 2020-04-01
New Economics Papers: this item is included in nep-mac and nep-rmg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:102718

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