Specification of the Joy of Giving: Insights from Altruism
AbstractThis paper analyzes the joy of giving bequest motive in which the utility obtained from leaving a bequest depends only on the size of the bequest. It exploits the fact that this formulation can be interpreted as a reduced form of an altruistic bequest motive to derive a relation between the value of the altruism parameter and the value of the joy of giving parameter. Using previous discussions of an a priori range of plausible values for the altruism parameter we then derive plausible restrictions on the joy of giving parameter. We demonstrate that this parameter may well be orders of magnitude larger than assumed in the existing literature.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2154.
Date of creation: Jan 1987
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Other versions of this item:
- Abel, Andrew B & Warshawsky, Mark, 1988. "Specification of the Joy of Giving: Insights from Altruism," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 145-49, February.
- Andrew B. Abel & Mark Warshawsky, . "Specification of the Joy of Giving: Insights from Altruism," Rodney L. White Center for Financial Research Working Papers 3-87, Wharton School Rodney L. White Center for Financial Research.
- Andrew B. Abel & Mark Warshawsky, . "Specification of the Joy of Giving: Insights from Altruism," Rodney L. White Center for Financial Research Working Papers 03-87, Wharton School Rodney L. White Center for Financial Research.
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