The universal moral public good of fighting poverty is provided by both public and private transfers. Efficient public transfers do not crowd out giving because of the particular motives for it. Understanding these effects is necessary for both explaining aid and choosing policy. This analysis...

An early death is, undoubtedly, a serious disadvantage. However, the compensation of short-lived individuals has remained so far largely unexplored, probably because it appears infeasible. Indeed, short-lived agents can hardly be identified ex ante, and cannot be compensated ex post. We argue...