Two-sided altruism, Lindahl equilibrium, and Pareto optimality in overlapping generations models
This paper extends the Samuelsonian overlapping generations general equilibrium framework to encompass a variety of altruistic preferences by recasting it into a Lindahl equilibrium framework. The First and the Second Welfare theorems hold for Lindahl equilibrium with respect to the Malinvaud optimality criterion but not with respect to the Pareto optimality criterion. A complete characterization of Pareto optimal allocations is provided using the Lindahl equilibrium prices. Copyright Springer-Verlag Berlin/Heidelberg 2006
Volume (Year): 27 (2006)
Issue (Month): 3 (04)
|Contact details of provider:|| Web page: http://link.springer.de/link/service/journals/00199/index.htm |
|Order Information:||Web: http://link.springer.de/orders.htm|
When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:27:y:2006:i:3:p:729-736. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.