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On perfect equilibria in stochastic models of growth with intergenerational altruism

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Author Info
Andrzej Nowak
Abstract

The well-known model of altruistic growth/strategic bequest is studied. A stochastic transition function is considered and fairly general sufficient conditions for the existence of Markov-stationary subgame-perfect equilibrium are given. Also some special cases in which the equilibrium policy is continuous and nondecreasing are discussed. Copyright Springer-Verlag Berlin/Heidelberg 2006

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File URL: http://hdl.handle.net/10.1007/s00199-004-0609-y
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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 28 (2006)
Issue (Month): 1 (05)
Pages: 73-83
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Handle: RePEc:spr:joecth:v:28:y:2006:i:1:p:73-83

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Related research
Keywords: Intergenerational game; Perfect equilibrium; Stochastic model of growth.;

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  1. Marcello D'Amato & Vincenzo Galasso, 2009. "Political Intergenerational Risk Sharing," CSEF Working Papers 216, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
    Other versions:
  2. John Duggan & Tasos Kalandrakis, 2007. "Dynamic Legislative Policy Making," Wallis Working Papers WP45, University of Rochester - Wallis Institute of Political Economy. [Downloadable!]
  3. Andrzej Nowak, 2006. "A note on an equilibrium in the great fish war game," Economics Bulletin, Economics Bulletin, vol. 17(2), pages 1-10. [Downloadable!]
  4. Woźny, Łukasz & Growiec, Jakub, 2008. "Intergenerational interactions in human capital accumulation," MPRA Paper 10308, University Library of Munich, Germany. [Downloadable!]
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This page was last updated on 2009-11-25.

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