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Le patrimoine et ses logiques d'accumulation

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  • Luc Arrondel
  • André Masson

Abstract

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.

Suggested Citation

  • Luc Arrondel & André Masson, 2003. "Le patrimoine et ses logiques d'accumulation," DELTA Working Papers 2003-26, DELTA (Ecole normale supérieure).
  • Handle: RePEc:del:abcdef:2003-26
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    File URL: http://www.delta.ens.fr/abstracts/wp200326.pdf
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    1. repec:dau:papers:123456789/6477 is not listed on IDEAS
    2. Luc Arrondel & André Masson & Daniel Verger, 2004. "Les comportements de l'épargnant à l'égard du risque et du temps," Économie et Statistique, Programme National Persée, vol. 374(1), pages 9-19.
    3. repec:crs:ecosta:es374-375b is not listed on IDEAS
    4. 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.

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