Overlapping Generations Models and Graded Age-Set Societies
AbstractFrom Africa through North America to Asia, anthropologists have found societies with formalized age-group systems. In these societies, social and economic relations between individuals are regulated by well-established rules governing transitions through the lifecycle. In this paper we detail the relationship between the classic formulations in Stewart's  Fundamentals of Age-Group Systems and the overlapping generations (OLG) model. We establish that OLG models can accurately represent a large subset of actual age-group societies called graded age-set societies. Thus, an OLG model bears a close resemblance to reality.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 160 (2004)
Issue (Month): 3 (September)
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Other versions of this item:
- Merwan H. Engineer & Linda Welling, 2004. "Overlapping Generations Models and Graded Age-Set Societies," Department Discussion Papers 0401, Department of Economics, University of Victoria.
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- P00 - Economic Systems - - General - - - General
- Z10 - Other Special Topics - - Cultural Economics - - - General
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- Merwan H. Engineer & Ming Kang & Eric Roth & Linda Welling, 2006. "Overlapping Generations Models of an Age-Group Society: The Rendille of Northern Kenya," 2006 Meeting Papers, Society for Economic Dynamics 248, Society for Economic Dynamics.
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