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Intertemporal Equilibrium with Myopic Altruism

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Author Info
Lambrecht, S.
Michel, P.
Thibault, E.

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Abstract

We modify the altruistic model by assuming that income, instead of the heir's utility, enters the altruist's utility function. We name this formulation "myopic" because, unlike in Barro's (1974) model, the altruist does not need to foresee into the indenite future to make his decisions. We analyze the equilibrium dynamics of an OLG model with individuals motivated by myopic altruism. We derive conditions for existence and uniqueness of the equilibrium. Unlike in Barro's model, there may exist multiple steady state equilibria with operative altruism.

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Publisher Info
Paper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 00a24.

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Length: 17 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:fth:aixmeq:00a24

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Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
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Related research
Keywords: ECONOMIC MODELS ; INCOME ; UTILITY FUNCTIONS ; ALTRUISM;

Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
D64 - Microeconomics - - Welfare Economics - - - Altruism
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving

Cited by:
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  1. LAMBRECHT, StŽphane & MICHEL, Philippe & THIBAULT, Emmanuel, 2005. "Capital accumulation and fiscal policy in an OLG model with family altruism," CORE Discussion Papers 2005027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
    Other versions:
  2. MICHEL, Philippe, 2003. "Public debt and limited altruism: is Ricardian equivalence possible if altruism is limited ?," CORE Discussion Papers 2003008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
Statistics
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