This paper presents a brief exposition of three theoretical models of household behavior and shows that these models have very different implications for bequest motives and bequest division, surveys previous empirical studies on bequest motives and bequest division, presents unique survey data...

Adam Smith explained the Feldstein-Horioka Paradox, arguing that it is the pursuit of security that leads owners of capital to invest at home and that it is the pursuit of security, not profit, that leads them to promote the good of society.

This paper finds that individuals in Japan do not leave very significant bequests, that parents often require a quid pro quo for bequests to their children, and that wealthier individuals leave less bequests, meaning that bequests ameliorate wealth inequalities.