Existence of Stationary Markov Perfect Equilibria in Stochastic Altruistic Growth Economies

Łukasz Balbus, Anna Jaśkiewicz and Andrzej Nowak

Journal of Optimization Theory and Applications, 2015, vol. 165, issue 1, No 15, 295-315

Abstract: Abstract We study an altruistic growth model with production uncertainty viewed as an intergenerational stochastic game. The existence of stationary Markov perfect equilibria is proved under general assumptions on utility functions for the generations and for non-atomic transition probabilities. This paper answers some issues that arose from the literature in the 1980s decade.

Keywords: Intergenerational stochastic game; Markov perfect equilibrium; Stochastic economic growth; 91A13; 91A25; 91B51; 91B62 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://link.springer.com/10.1007/s10957-014-0555-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joptap:v:165:y:2015:i:1:d:10.1007_s10957-014-0555-1

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10957/PS2

DOI: 10.1007/s10957-014-0555-1

Access Statistics for this article

Journal of Optimization Theory and Applications is currently edited by Franco Giannessi and David G. Hull

More articles in Journal of Optimization Theory and Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().