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
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
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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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