Nonpaternalistic intergenerational altruism
نویسندگان
چکیده
منابع مشابه
Nonpaternalistic Intergenerational Altruism*
The paper develops a concept of equilibrium behaviour and establishes its existence in a model of nonpaternalistic intergenerational altruism. Each generation derives utility from its own consumption and the utilities of its successors. Equilibrium capital stocks are time-monotone and therefore converge to a steady state. Finally. when each generation’s utility depends on that of at least two s...
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Utility functions embodying nonpaternalistic altruism can be regarded as being generated through social interactions among altruistic individuals. As such, they show an important interdependence. Assuming linear altruism, the paper obtains the following results. First, nonpaternalistic altruism has a tendency to unify utility functions. Second, by linearly extrapolating a given structure of alt...
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This paper develops and studies a tough love model of intergenerational altruism. We model tough love by modifying the standard altruism model (Barro, Becker 1974) in two ways. First, the child’s discount factor is endogenously determined, so that low consumption at young age leads to a higher discount factor later in her life. Second, the parent evaluates the child’s life time utility with a c...
متن کاملA Theory of Intergenerational Altruism
Modeling intergenerational altruism is crucial to evaluate the long-term consequences of current decisions, and requires a set of principles guiding such altruism. We axiomatically develop a theory of pure, direct altruism: Altruism is pure if it concerns the total utility (rather than the mere consumption utility) of future generations, and direct if it directly incorporates the utility of all...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1987
ISSN: 0022-0531
DOI: 10.1016/0022-0531(87)90008-1