Overlapping Generations Models and Graded Age-Set Societies

Merwan Engineer () and Linda Welling ()

No 401, Department Discussion Papers from Department of Economics, University of Victoria

Abstract: From Africa through North America to Asia, anthropologists have found societies with formalized age-group systems. In these societies, social and economic relations between individuals are regulated by well-established rules governing transitions through the lifecycle. In this paper we detail the relationship between the classic formulations in Stewart's (1977) Fundamentals of Age-Group Systems and the overlapping generations (OLG) model. We establish that OLG models can accurately represent a large subset of actual age-group societies called graded age-set societies. Thus, an OLG model bears a close resemblance to reality.

JEL-codes: J10 P00 Z10 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2004-03-30
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Citations: View citations in EconPapers (1)

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Journal Article: Overlapping Generations Models and Graded Age-Set Societies (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:vic:vicddp:0401

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