On perfect equilibria in stochastic models of growth with intergenerational altruism

The well-known model of altruistic growth/strategic bequest is studied. A stochastic transition function is considered and fairly general sufficient conditions for the existence of Markov-stationary subgame-perfect equilibrium are given. Also some special cases in which the equilibrium policy is continuous and nondecreasing are discussed. Copyright Springer-Verlag Berlin/Heidelberg 2006

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Year of publication:	2006
Authors:	Nowak, Andrzej
Published in:	Economic Theory. - Springer. - Vol. 28.2006, 1, p. 73-83
Publisher:	Springer
Subject:	Intergenerational game \| Perfect equilibrium \| Stochastic model of growth

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005155393