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In this paper, I analyze a variety of evidence for Japan and, where available, for the United States on bequest … applicable in Japan than it is in the U.S., that the dynasty model is also more applicable in Japan than it is in the U.S. but … that it is not of dominant importance even in Japan, and conversely, that the altruism model is far more applicable in the …
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Classified broadly, two motives for intra-family transfers exist: altruism and selfishness. This paper examines two selfish hypotheses − the exchange motive (strategic bequest motive)and the demonstration effect − using a new Japanese micro data set. My analysis of the determinants of...
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