Cross-dynastic intergenerational altruism
研究了储蓄行为能否揭示社会相关的跨期偏好，通过将当代人对下一代的偏好分解为王朝内和跨王朝成分，发现跨王朝利他主义导致储蓄行为无法直接推断社会贴现率，且推断出的偏好存在时间不一致性。
Does saving behavior reveal socially relevant intertemporal preferences? People concerned about the next generation as such might assign welfare weights on other dynasties. These concerns are captured in a model of saving by decomposing the present generation’s preference for the next into its dynastic and cross-dynastic components. With such preferences, saving for one’s descendants benefits present members of other dynasties if they also care cross-dynastically. These preference externalities imply that socially relevant intertemporal preferences cannot be inferred from saving behavior and that utility discount rates revealed by saving behavior should be lowered. The external effect of present saving also decreases over time, implying that intertemporal preferences inferred from saving behavior are time-inconsistent.