Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/127099
Authors: 
Horioka, Charles Yuj
Year of Publication: 
2014
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 901
Abstract: 
This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on actual bequests, bequest motives, and bequest division, the paper presents data on the strength of bequest motives, stated bequest motives, and bequest division plans from a new international survey conducted in China, India, Japan, and the United States. It finds striking inter-country differences in bequest plans, with the bequest plans of Americans and Indians appearing to be much more consistent with altruistic preferences than those of the Japanese and Chinese and the bequest plans of the Japanese and Chinese appearing to be much more consistent with selfish preferences than those of Americans and Indians. These findings have important implications for the efficacy and desirability of stimulative fiscal policies, public pensions, and inheritance taxes.
Subjects: 
bequests
inheritances
estates
inter vivos transfers
intergenerational transfers
bequest motives
bequest division
bequest plans
equal division
household preferences
altruism
selfishness
self-interest
selfish life cycle model
altruism model
dynasty model
dynasty building
primogeniture
selfish exchange model
strategic bequest motive
inheritance laws
estate taxes
social safety nets
social norms
culture
religiosity
religion
JEL: 
D12
D14
D64
D91
E21
H31
J14
P52
Z12
Document Type: 
Working Paper

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