Dynasties and Destiny: On the Roles of Altruism and Impatience in the Evolution of Consumption and Bequests

Stark, Oded and Falk, Ita (October 2000) Dynasties and Destiny: On the Roles of Altruism and Impatience in the Evolution of Consumption and Bequests. IHS Economics Series 88

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Abstract or Table of Contents

Abstract: 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.;

Item Type: IHS Series
Keywords: 'A13' 'D11' 'D64' 'D91'
Classification Codes (e.g. JEL): Altruism, Impatience, Intergenerational transfers, Dynasties, Evolution of consumption, Evolution of bequests
Status: Published
Date Deposited: 26 Sep 2014 10:37
Last Modified: 22 Jul 2017 09:15
URI: http://irihs.ihs.ac.at/id/eprint/1294

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