Economic dynasties with intermissions

Louis Gevers and Philippe Michel
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Louis Gevers: FUNDP, Namur, Belgium and CORE, Louvain-la-Neuve, Belgium

No 1998012, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: We consider a model of successive generations with a fixed proportion of selfish and altruistic members in each individual's offspring. In contrast with the others, selfish members bequeath nothing to their own children. We assume that parents cannot recognize their heirs' types and that negative bequests are forbidden. We study Markov perfect equilibria of this multistage game of incomplete information and their implications for wealth distribution.

Date: 1998-01-01
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Journal Article: Economic Dynasties with Intermissions (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:1998012

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