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“Subjective inheritance expectations and economic outcomes”

Author

Listed:
  • Stefania Basiglio

    (University of Trento)

  • Mariacristina Rossi

    (University of Turin and CeRP-Collegio Carlo Alberto)

  • Arthur

    (Tilburg University)

Abstract

n this paper we investigate whether and to what extent inheritance expectations act as a driver of economic choices. We use the DHS dataset merged with a specific module on subjective probabilities on inheritance receiving and its amount foreseen in the next ten years. Hence, we analyze whether the expected inheritance acts as a deterrent to saving. Results suggest that individuals perceive the expected inheritances as a potential increase of personal wealth, which leads to a reduction in savings. Expectations appear to matter also in the enhancement of the intention to bequeath and in future work versus leisure choices.

Suggested Citation

  • Stefania Basiglio & Mariacristina Rossi & Arthur, 2019. "“Subjective inheritance expectations and economic outcomes”," CeRP Working Papers 190, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    • Handle: RePEc:crp:wpaper:190
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    File URL: https://www.cerp.carloalberto.org/subjective-inheritance-expectations-and-economic-outcomes/
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    Cited by:

    1. is not listed on IDEAS
    2. Ricky Kanabar, 2024. "Assortative mating and wealth inequality in Great Britain: evidence from the baby boomer and Gen X cohorts," CEPEO Working Paper Series 24-07, UCL Centre for Education Policy and Equalising Opportunities, revised Nov 2024.
    3. Belloc, Ignacio & Molina, José Alberto & Velilla, Jorge, 2025. "Inheritance Shocks and Expenditure Patterns: A Dynamic Collective Approach," IZA Discussion Papers 18243, Institute of Labor Economics (IZA).
    4. S. Basiglio & A. Ricci & M. Rossi, 2025. "Entrepreneurs’ impatience and digital technologies," Small Business Economics, Springer, vol. 64(4), pages 2035-2060, April.
    5. Belloc, Ignacio & Molina, José Alberto & Velilla, Jorge, 2025. "Consumption responses to inheritances: The role of durable goods," Journal of Macroeconomics, Elsevier, vol. 83(C).
    6. Schratzenstaller, Margit, 2025. "Behavioral responses to inheritance taxation – A review of the empirical literature," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 238-260.
    7. Cioinac, Elena, 2025. "Impacto de la legislación en la distribución de la riqueza: Evidencia global de las herencias y el ahorro [Impact of legislation on wealth distribution: Global evidence from inheritances and savings]," MPRA Paper 125142, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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