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A Stochastic Overlapping Generations Economy with Inheritance

I. Karatzas, Martin Shubik and W. Sudderth

Working Papers from Santa Fe Institute

Abstract: An overlapping generations model of an exchange economy is considered, with individials having a fininte expected life-span. As the model is designed to be a fully playable game, conditions concerning birth, death, inheritance and bequests are fully specified.

Keywords: Overlapping generations; inheritance; dynasmic programming; strategic market games; stationary Markov equilibrium. (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge
Date: 2000-04
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