Asymptotic distribution theory is the primary method used to examine the properties of econometric estimators and tests. We present conditions for obtaining cosistency and asymptotic normality of a very general class of estimators (extremum estimators). Consistent asymptotic variance estimators...

This paper investigates whether subjective expectations about future mortality affect consumption and bequests motives. We estimate a dynamic life-cycle model based on subjective survival rates and wealth from the panel dataset Asset and Health Dynamics among Oldest Old. We find that bequest...