| Author: | Hori, H. |
| Title: | Dynamic allocation in altruistic overlapping generations economy |
| Journal: | Journal of Economic Theory
1997 : APR, VOL. 73:2, p. 292-315 |
| Index terms: | SOCIAL SECURITY ALLOCATION CONSUMPTION |
| Language: | eng |
| Abstract: | This paper considers dynamic allocation of consumption and resources in an altruistic overlapping generations economy. People live in two periods, and the altruism is intergenerational and two-sided in the sense that it extends to the child ad parent generations. What matters is only the utility levels of other generations and not their particular patterns of consumption. Generations coexisting in the same period agree on social welfare function evaluating the consumption of various generations, and play against those in different periods. The paper shows the game equilibrium and examines it's properties. |
SCIMA