On perfect equilibria in stochastic models of growth with intergenerational altruism

Andrzej Nowak

Economic Theory, 2006, vol. 28, issue 1, 73-83

Abstract: The well-known model of altruistic growth/strategic bequest is studied. A stochastic transition function is considered and fairly general sufficient conditions for the existence of Markov-stationary subgame-perfect equilibrium are given. Also some special cases in which the equilibrium policy is continuous and nondecreasing are discussed. Copyright Springer-Verlag Berlin/Heidelberg 2006

Keywords: Intergenerational game; Perfect equilibrium; Stochastic model of growth. (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s00199-004-0609-y

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