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 (1977) 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 InfoPaper provided by Department of Economics, University of Victoria in its series Department Discussion Papers with number 0401.
Length: 26 pages
Date of creation: 30 Mar 2004
Date of revision:
Other versions of this item:
- Merwan H. Engineer & Linda Welling, 2004. "Overlapping Generations Models and Graded Age-Set Societies," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 454-, September.
- 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 248, Society for Economic Dynamics.
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