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Overlapping Generations Models and Graded Age-Set Societies

From 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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Paper provided by Department of Economics, University of Victoria in its series Department Discussion Papers with number 0401.

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Length: 26 pages
Date of creation: 30 Mar 2004
Date of revision:
Handle: RePEc:vic:vicddp:0401
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