The Strength and Nature of Bequest Motives in the United States

Yoon G. Lee & Charles Yuji Horioka
Authors registered in the RePEc Author Service: Charles Yuji Horioka ()

No 675, Econometric Society 2004 Far Eastern Meetings from Econometric Society

Abstract: In this paper, we analyze the strength and nature of bequest motives in the United States using data from the 2000 Health and Retirement Study (HRS). The results of our analysis suggest that bequest motives are very strong in the United States and that they are altruistically motivated. This suggests that the altruism (or dynasty) model applies in the United States and that the selfish life cycle model does not apply. Moreover, our results also suggest that older, wealthier, married, more highly educated, Caucasian, healthy, and non-religious individuals are more likely to leave a bequest than other individuals.

Keywords: Bequests; Bequest Motives; Altruism; Life Cycle Model; Household Behavior (search for similar items in EconPapers)
JEL-codes: D12 D91 E21 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-hea
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Citations: View citations in EconPapers (2)

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