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| Author: | Jouvet, P.-A. Michel, P. Vidal, J.-P. |
| Title: | Intergenerational altruism and the environment |
| Journal: | Scandinavian journal of economics
2000 : VOL. 102:1, p. 135-150 |
| Index terms: | ECONOMICS ALTRUISM ENVIRONMENT |
| Language: | eng |
| Abstract: | The authors construct an overlapping generations model of pollution externality in which individuals are altruistically linked to their offspring as in Barro (1974). It is shown that steady-state consumption may be a decreasing function of the intergenerational degree of altruism. Despite individuals' altruism, the competitive equilibrium is not optimal. The authors thus study the social optimum and show that it can be decentralized. |
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