Two-sided altruism, Lindahl equilibrium, and Pareto optimality in overlapping generations models

Lakshmi Raut ()

Economic Theory, 2006, vol. 27, issue 3, 729-736

Abstract: This paper extends the Samuelsonian overlapping generations general equilibrium framework to encompass a variety of altruistic preferences by recasting it into a Lindahl equilibrium framework. The First and the Second Welfare theorems hold for Lindahl equilibrium with respect to the Malinvaud optimality criterion but not with respect to the Pareto optimality criterion. A complete characterization of Pareto optimal allocations is provided using the Lindahl equilibrium prices. Copyright Springer-Verlag Berlin/Heidelberg 2006

Keywords: Altruism; Lindahl equilibrium; Pareto optimality; Overlapping generations. (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s00199-004-0562-9

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