Life Cycle Saving: A General Paradigm or a Caricature of the Petite-Bourgeoisie

George von Furstenberg

Annals of Economics and Statistics, 1988, issue 9, 183-198

Abstract: The paper interprets the life cycle hypothesis as an outgrowth of classical liberalism on account of the assumptions of egoism, intellectualism, and atomism which they share. A broader approach is modeled by letting differences in subjective survival probabilities reflect differences in altruism for heirs or posterity in general. The choice individuals make of family status may be indicative of differences in dynastic disposition even though such inclinations and their enforceability appear to have declined.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1988:i:9:p:183-198

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