TY - JOUR
T1 - Does the Source of Inheritance Matter in Bequest Attitudes? Evidence from Japan
AU - Zhou, Mengyuan
N1 - Funding Information:
This work was funded by the Japan Society for the Promotion of Science (JSPS) KAKENHI (Grant-in-Aid for Research Activity Start-up) Grant Number 20K22098, a grant from Keio Economic Society, and a grant from the Doctorate Student Grant-in-Aid Program at Keio University. I am grateful to Masao Ogaki, Colin McKenzie, and Charles Yuji Horioka. This research utilizes the micro-data from the Preference Parameters Study of Osaka University’s 21st Century COE Program “Behavioral Macrodynamics Based on Surveys and Experiments” and its Global COE project “Human Behavior and Socioeconomic Dynamics.” I acknowledge the program/project’s contributors: Yoshiro Tsutsui, Fumio Ohtake, and Shinsuke Ikeda.
Publisher Copyright:
© 2021, The Author(s).
PY - 2021
Y1 - 2021
N2 - Abstract: A better understanding of the reasons for bequests can be pivotal for fiscal policy and wealth inequality management, as the different motives underlying bequest behavior have varied implications. This study examines bloodline-based indirect reciprocity in bequest attitudes over three generations. In doing so, it extends the family tradition model to a bloodline-based family tradition model. This extended model suggests that the source of the inheritance impacts the amount of the bequest left to one’s children or spouse. To test the hypothesis, this study empirically analyzes survey data from the 2009 wave of the Preference Parameters Study for Japan. The results suggest that with some socioeconomic characteristics controlled for, those who have received an inheritance from their parents are more likely to intend to bequest as much as possible to their children, while Japanese females (males) who have received an inheritance from their spouse’s parents are more likely to intend to bequest as much as possible to both their children and their spouse (their spouse only). Hence, the source of the inheritance does matter in bequest attitudes, suggesting bloodline-based indirect reciprocity in bequest attitudes.
AB - Abstract: A better understanding of the reasons for bequests can be pivotal for fiscal policy and wealth inequality management, as the different motives underlying bequest behavior have varied implications. This study examines bloodline-based indirect reciprocity in bequest attitudes over three generations. In doing so, it extends the family tradition model to a bloodline-based family tradition model. This extended model suggests that the source of the inheritance impacts the amount of the bequest left to one’s children or spouse. To test the hypothesis, this study empirically analyzes survey data from the 2009 wave of the Preference Parameters Study for Japan. The results suggest that with some socioeconomic characteristics controlled for, those who have received an inheritance from their parents are more likely to intend to bequest as much as possible to their children, while Japanese females (males) who have received an inheritance from their spouse’s parents are more likely to intend to bequest as much as possible to both their children and their spouse (their spouse only). Hence, the source of the inheritance does matter in bequest attitudes, suggesting bloodline-based indirect reciprocity in bequest attitudes.
KW - Bequest attitudes
KW - Family tradition
KW - Indirect reciprocity
KW - Inheritance
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U2 - 10.1007/s10834-021-09803-2
DO - 10.1007/s10834-021-09803-2
M3 - Article
AN - SCOPUS:85116775460
JO - Lifestyles
JF - Lifestyles
SN - 0882-3391
ER -