It is more difficult to measure the size of intended bequests relative to that of purely accidental ones, due to uncertainty about the life span.
Other models are life cycle, intergenerational with retirement, uncertain lifetimes, accidental and deliberate bequests, as well as mixtures of these.
This implies that the levels of accidental bequests received by young agents in the short run are different from the long-run ones.
The core of the parish holding was an ancient bequest of 1618, but additional land was added in 1701, 1718, 1722, and 1727.
There is no bequest motive, labor supply is assumed to be exogenous and the individual is not permitted to borrow either stocks or bonds.
In this case, the wealth of members of a dynasty at any instant can be interpreted as a bequest from preceding generations.
So how do people view assets in later life, particularly in relation to the issue of bequests?
As new medical technologies sent expenses on an upward spiral, small provincial hospitals, largely funded by small private bequests, could not keep up.
