Intergenerational altruism and the environment
AbstractThis paper constructs an overlapping generations model of pollution externality wherein individ- uals are altruistically linked to their offspring as in Barro (1974). It is shown that steady-state consumption can be a decreasing function of the intergenerational degree of altruism. Despite individuals’ altruism, the competitive equilibrium is not optimal. We thus study the social optimum and prove that it can be decentralised.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1997041.
Date of creation: 01 Jun 1997
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altruism; environment; overlapping generations;
Other versions of this item:
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
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