Non-paternalistic intergenerational altruism revisited

Łukasz Balbus, Anna Jaśkiewicz and Andrzej Nowak

Journal of Mathematical Economics, 2016, vol. 63, issue C, 27-33

Abstract: In this paper, we prove the existence of a stationary equilibrium in an intergenerational stochastic game with non-paternalistic altruism as defined by Ray (1987). Our approach is based on the assumption that the transition probabilities are non-atomic. The utility function of each generation has a very general form including many special cases studied in the literature.

Keywords: Stochastic game; Stationary equilibrium; Stochastic economic growth; Non-paternalistic intergenerational altruism (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:63:y:2016:i:c:p:27-33

DOI: 10.1016/j.jmateco.2015.12.002

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