We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of steady-state equilibrium. We show that aggregate income is...

We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of steady-state equilibrium. We show that aggregate income is...

We consider a simple discrete-time version of Lucas (1988). When the speed of human capital accumulation is high (low), the Balanced Growth (Degrowth) Path is the unique optimal solution.

This study adresses time-dependent orders that are shown to lead to recursive representations based upon a Max-Min dichotomy and introduces a structure that is naturally based upon time-varying multiple discounts. It is argued that this setup naturally provides an enriched understanding of the...

This article studies an axiomatic approach of inter-temporal utility streams that takes into account evaluations of stream's close future and distant future. A detailed characterization of sets of discount rates systems used to evaluate the close and distant future is presented. This is followed...

We consider an overlapping generations economy with altruism towards parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamics properties of equilibrium and rational bubbles in the cases of exogenous and endogenous...

This article completes an axiomatic approach of utilities streams. The approach is more precisely based upon the robust pre-orders that open the scope for $\alpha$-MaxMin representations. A general $T$-steps Temporal Bias axiom is first introduced, that encapsulates stationarity and $1$-step...

This study adresses time-dependent orders that are shown to lead to recursive representations based upon a Max-Min dichotomy and introduce a structure that is naturally based upon time-varying multiple discounts. It is argued that this setup naturally provides an enriched understanding of the...