Economic dynasties with intermissions
We consider a model of successive generations with a fixed proportion of selfish and altruistic members in each individual's offspring. In contrast with the others, selfish members bequeath nothing to their own children. We assume that parents cannot recognize their heirs' types and that negative bequests are forbidden. We study Markov perfect equilibria of this multistage game of incomplete information and their implications for wealth distribution.
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References listed on IDEAS
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- Barro, Robert J, 1974.
"Are Government Bonds Net Wealth?,"
Journal of Political Economy,
University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
- Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
- MICHEL, Philippe & PESTIEAU , Pierre, 1994. "Fiscal Policy in a Growth Model with Both Altruistic and Non Altruistic Agents," CORE Discussion Papers 1994049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Dutta, Jayasri & Michel, Philippe, 1998. "The Distribution of Wealth with Imperfect Altruism," Journal of Economic Theory, Elsevier, vol. 82(2), pages 379-404, October.
- DUTTA, Jayasri & MICHEL, Philippe, 1995. "The Distribution of Wealth with Imperfect Altruism," CORE Discussion Papers 1995058, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- repec:adr:anecst:y:1996:i:43 is not listed on IDEAS
- E. S. Phelps & R. A. Pollak, 1968. "On Second-Best National Saving and Game-Equilibrium Growth," Review of Economic Studies, Oxford University Press, vol. 35(2), pages 185-199.
- repec:adr:anecst:y:1996:i:43:p:03 is not listed on IDEAS
- Jean-Pierre Vidal, 1996. "Altruisme et hétérogénéité," Annals of Economics and Statistics, GENES, issue 43, pages 57-71. Full references (including those not matched with items on IDEAS)