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On perfect equilibria in stochastic models of growth with intergenerational altruism.
- 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]
- Subjects :
- ALTRUISM
STOCHASTIC processes
MARKOV processes
ECONOMIC equilibrium
Subjects
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