Bequest Intentions of Forest Landowners: Theory and Empirical Evidence
构建代际交叠森林经济模型，分析非工业林主在利他动机下选择货币或木材遗赠的条件，并用弗吉尼亚州截面数据检验理论假设，结果与理论一致。
Abstract This article studies in an overlapping generations forest economy the conditions under which money and/or timber bequests occur across generations, assuming the usual case of one‐sided altruism. We assume nonindustrial landowners have preferences for consumption and for amenities from unharvested forest stock. Within this framework, we examine conditions under which landowners choose to leave timber or money bequests, and we show how taxation is important to these conditions. Empirical evidence from bequests decisions for a cross‐section sample of nonindustrial landowners in Virginia is then used to investigate the hypotheses suggested by the model with regard to the motive to leave bequests. The results are broadly consistent with the theoretical findings.