Learned Convention and Subgame Perfect Equilibrium in an Overlapping Generations Model with Two-Sided Altruism
نویسندگان
چکیده
منابع مشابه
Learned Convention and Subgame Perfect Equilibrium in an Overlapping Generations Model with Two-Sided Altruism
This paper considers an overlapping generations model of endogenous fertility, savings and intergenerational transfers. While subgame perfect equilibrium notion is more relevent to analyze individual incentives in this set-up, due to computational complexity and lack of an appropriate equilibrium selection theory, most previous studies employed the open-loop Nash equilibrium. This paper introdu...
متن کاملSubgame perfect manipulation of children by overlapping generations of agents with two-sided altruism and endogenous fertility1
In this paper we consider an overlapping generations model with endogenous fertility and two-sided altruism and show the limitations of applying commonly used open loop Nash equilibrium in characterizing equilibrium transfers from parents to children in the form of bequest, and transfers from children to parents as voluntary old-age support. Since in our model children are concerned with parent...
متن کاملOverlapping Generations Model of General Equilibrium By
The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow–Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, multiplicity, positive valuation of money, and a golden rule equilibrium in which the rate of interest is equal to population growth (independent of impatience). These properties...
متن کاملPerfect and total altruism across the generations
The traditional formulation of the altruism model has altruistic terms that relate solely to other parties’ felicities from consumption. But if those others are altruistic as well, their altruism benefits are being neglected. Total altruism takes the total utilities of others, rather than their mere felicities, as the basis for altruistic valuations. We assess total altruism in an intergenerati...
متن کاملEvolution of altruism in stepping-stone populations with overlapping generations.
We study the evolution of altruism in one- and two-dimensional stepping-stone populations with discrete overlapping generations. We find that increasing survival probability facilitates the evolution of altruism, in agreement with recent results for a patch-structured population. We allow the altruistic behaviour to affect either fecundity or survival probability. In the first case, altruism is...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.833705