Dynasties and destiny: On the roles of altruism and impatience in the evolution of consumption and bequests

We study the joint role of altruism and impatience, and the impact of evolution in the formation of long-term time preferences and in the determination of optimal consumption and optimal bequests. We show how the consumption paths of dynasties relate to altruism and to impatience and we reason that long-lived dynasties will be characterized by a higher degree of altruism and a lower degree of impatience than short-lived dynasties.

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Year of publication:	2000
Authors:	Stark, Oded ; Falk, Ita
Publisher:	Vienna : Institute for Advanced Studies (IHS)
Subject:	Soziale Werte \| Altruismus \| Privater Transfer \| Konsum \| Erbe \| Theorie \| altruism \| impatience \| intergenerational transfers \| dynasties \| evolution of consumption \| evolution of bequests

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Series:	Reihe Ökonomie / Economics Series ; 88
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	740112643 [GVK] hdl:10419/71209 [Handle] RePEc:ihs:ihsesp:88 [RePEc]
Classification:	A13 - Relation of Economics to Social Values ; D11 - Consumer Economics: Theory ; D64 - Altruism ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	EconStor

Persistent link: https://www.econbiz.de/10010292746