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How do altruistic parental transfers affect the welfare gains of marriage?
Institution:1. Department of Economic Analysis, University of Zaragoza, Spain;2. Institute for the Study of Labour-IZA, Bonn, Germany;1. Jones College of Business, Middle Tennessee State University, Murfreesboro, TN 37132, United States;2. EBS Business School, EBS Universität für Wirtschaft und Recht, Wiesbaden, Germany;3. Department of Business, Tennessee Wesleyan College, 204 E. College Street, Athens, TN 37303, United States;1. CONICET, Área de Arqueología, Centro de Estudios Históricos “Prof. Carlos S.A. Segreti”, Miguel C. del Corro 308, C.P. 5000 Córdoba Capital, Córdoba, Argentina;2. Universidad Nacional de Córdoba, CONICET, Área de Arqueología, Centro de Estudios Históricos “Prof. Carlos S. A. Segreti”, Miguel C. del Corro 308, C.P. 5000 Córdoba Capital, Córdoba, Argentina;1. School of Nursing, University of Pittsburgh, Pittsburgh, PA, USA;2. Division of Medical Informatics, Department of Internal Medicine, University of Kansas Medical Center, Kansas City, KS, USA;3. Medical Service, VA Boston Healthcare System, USA;4. Division of Sleep and Circadian Disorders, Brigham & Women''s Hospital, USA;5. Division of Sleep Medicine, Harvard Medical School, Boston, MA, USA;6. Department of Psychiatry, University of Pittsburgh, Pittsburgh, PA, USA
Abstract:This paper analyses the effects of altruistic parental transfers on the welfare gains of marriage. To that end, it develops a sequential game which, in a first stage, determines the optimum level of the transfer between the altruistic donor (the parent) and the recipient (the daughter/son). In the second stage, the levels of consumption and provision of a family good are deduced by way of a Nash bargaining solution, with the threat point being represented by divorce. We find that the degree of altruism of the recipient has a null effect on the gains in welfare derived from the marriage by the recipient’s spouse, and a positive effect on those derived by the recipient. Additionally, the degree of altruism of the donor has a positive effect on the gains in welfare derived from the marriage by the recipient’s spouse, and an ambiguous effect on those derived by the recipient.
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