On Efficient Child Making

Philippe Michel and Bertrand Wigniolle

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Abstract: This paper is devoted to the study of the Pareto-efficiency of the competitive equilibrium for an overlapping generations economy with endogenous fertility. Pareto-efficiency needs a reformulation when fertility is endogenous. Then it is proved that a competitive equilibrium that converges in over-accumulation is non-Pareto-efficient. However, we provide an example in which a competitive equilibrium that converges in under-accumulation is non-Pareto-efficient. Finally, we give a general condition that ensures the Pareto-efficiency of the competitive equilibrium.

Keywords: endogenous fertility; Pareto-efficiency (search for similar items in EconPapers)
Date: 2007-05
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00185259
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Citations: View citations in EconPapers (16)

Published in Economic Theory, 2007, 31 (2), pp.307-326. ⟨10.1007/s00199-006-0099-1⟩

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Journal Article: On Efficient Child Making (2007)
Working Paper: On Efficient Child Making (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00185259

DOI: 10.1007/s00199-006-0099-1

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