Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/84763 
Year of Publication: 
2001
Series/Report no.: 
ZEF Discussion Papers on Development Policy No. 43
Publisher: 
University of Bonn, Center for Development Research (ZEF), Bonn
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.
Subjects: 
Institutional and Behavioral Economics
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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