the capitalist spirit as Zou (1994), and shows that the restrictive standard one is perhaps not the actual optimized …

consumption. Including capitalist-spirit preferences in a simple life cycle model, with no other modifications, generates a … skewness of wealth consistent with that observed in the U.S. economy. Furthermore, capitalist-spirit preferences provide a way … models of saving behavior have difficulty explaining. Using MaxWeber's (1905) idea that individuals may have a 'capitalist …

may have a `capitalist spirit', I construct and simulate a model where some individuals accumulate wealth for its own sake … rather than as deferred consumption. Including capitalist-spirit preferences in the standard life cycle model, with no other … modifications, generates a skewness of wealth consistent with that observed in the U.S. economy. Furthermore, capitalist-spirit …

This paper structurally estimates the Capitalist Spirit Model, in which utility derives from direct preferences for …

This paper presents a capitalist-spirit model of savings by including wealth in the intertemporal utility function … without children have not shown significant differences in their savings behavior. The capitalist-spirit approach is …