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On perfect equilibria in stochastic models of growth with intergenerational altruism.

Authors :
Nowak, Andrzej S.
Source :
Economic Theory; May2006, Vol. 28 Issue 1, p73-83, 11p
Publication Year :
2006

Abstract

The well-known model of altruistic growth/strategic bequest is studied. A stochastic transition function is considered and fairly general sufficient conditions for the existence of Markov-stationary subgame-perfect equilibrium are given. Also some special cases in which the equilibrium policy is continuous and nondecreasing are discussed. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
09382259
Volume :
28
Issue :
1
Database :
Complementary Index
Journal :
Economic Theory
Publication Type :
Academic Journal
Accession number :
17551664
Full Text :
https://doi.org/10.1007/s00199-004-0609-y