Existence of Stationary Markov Perfect Equilibria in Stochastic Altruistic Growth Economies
نویسندگان
چکیده
We study an altruistic growth model with production uncertainty viewed as an inter-generational stochastic game. Each generation derives utility from its own consumption and consumption of all successors. The existence of stationary Markov perfect equilib-ria is proved under general assumptions on utility functions for the generations and for non-atomic transition probabilities.
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ورودعنوان ژورنال:
- J. Optimization Theory and Applications
دوره 165 شماره
صفحات -
تاریخ انتشار 2015