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Don Cox, an economics professor at Boston College, discusses the economics of inheritance, how parents allocate their time and money among their children, changes in inheritance practices in Tanzania, potential conflicts in dividing inheritance, dynamics of family relationships and inheritance distribution, and the biological purpose of adolescence.
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Quick takeaways
- Parents tend to divide their estates equally among their children, regardless of their financial circumstances, challenging the traditional model of altruism.
- Daughters spend twice as many hours caring for aging parents compared to sons, highlighting the unique role they play in caregiving.
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The puzzle of equal division in bequests
When it comes to dividing estates among children, even in cases where one child is financially successful and the other is struggling, most parents tend to split the bequests equally. This contradicts the expectation that parents would provide more help to the struggling child. This norm of equal division in bequests is puzzling and challenges the traditional model of altruism.
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