Utility from accumulation
By: Louis Kaplow.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series -- working paper 15595; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15595.
Publisher: National Bureau of Economic Research
Published: 2009
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The possibility that individuals may derive utility from the mere fact of holding wealth has long been recognized.  A simple intertemporal model featuring utility from accumulation is used here to examine consumption and savings, the choice between inter vivos gifts and bequests (both to descendants and to charities), and levels of annuitization.  Introducing utility from accumulation helps to explain a number of empirical regularities that otherwise seem inconsistent with optimizing behavior.  Moreover, because individuals who derive significant utility from accumulation will tend to save more and, in the long run, give more than others do, this source of utility may be especially important in analyzing savings behavior, gifts and bequests, and charitable contributions"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 12/29/2009.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.