A Stochastic Overlapping Generations Economy with Inheritance
AbstractAn overlapping generations model of an exchange economy is considered, with individials having a fininte expected life-span. As the model is designed to be a fully playable game, conditions concerning birth, death, inheritance and bequests are fully specified.
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Bibliographic InfoPaper provided by Santa Fe Institute in its series Working Papers with number 00-04-023.
Date of creation: Apr 2000
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More information through EDIRC
Overlapping generations; inheritance; dynasmic programming; strategic market games; stationary Markov equilibrium.;
Other versions of this item:
- Ioannis Karatzas & Martin Shubik & William D. Sudderth, 2000. "A Stochastic Overlapping Generations Economy with Inheritance," Cowles Foundation Discussion Papers 1262, Cowles Foundation for Research in Economics, Yale University.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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