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Le patrimoine et ses logiques d'accumulation


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  • Luc Arrondel
  • André Masson


This article considers four models of household wealth accumulation, which differ principally in terms of the length of the time horizon. The myopic model is characterised by a very short time horizon, with models levels of wealth tracking income, while life-cycle models suppose that individuals maximise over the whole of their expected lifetime. Third, in the dynastic or long-sighted model individual preferences include the welfare of future generations. While the life-cycle household aims to consume all of its resources over its lifetime, dynastic households make bequests to their children. Last, some large fortunes seem to be motivated by a desire for power, economic or otherwise, social status, or a desire for immortality. We distinguish two types of saving: saving for oneself, and saving for others or as an end in itself. The latter results from the last two models of wealth accumulation. We propose a typology of wealth accumulation in French households which crosses the four types of motivation with the two types of saving.

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Bibliographic Info

Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2003-26.

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Date of creation: 2003
Date of revision:
Handle: RePEc:del:abcdef:2003-26

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Cited by:
  1. Legros, Florence, 2006. "Life cycle options and preferences," Economics Papers from University Paris Dauphine 123456789/6477, Paris Dauphine University.
  2. Céline Antonin, 2009. "Age, revenu et comportements d'épargne des ménages : une analyse théorique et empirique sur la période 1978-2006," Sciences Po publications info:hdl:2441/5l6uh8ogmqi, Sciences Po.
  3. Luc Arrondel & André Masson & Daniel Verger, 2005. "Risk-And Time-Related Saver Behaviour," Economie et Statistique, Institut National de la Statistique et des Etudes Economiques, vol. 374, pages 9-19, May.


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