Citation:
Journal of Economic Theory, 47, 1989, 195-202
This paper concerns the existence of Markov perfect equilibria in altruistic growth economies. Previous work on deterministic models has established existence only under extremely restrictive conditions. We show that the introduction of production uncertainly yields an existence theorem for aggregative infinite horizon models with very general forms of altruism.
Research Fields :
Game Theory (Applied)
Intergenerational Transfers
Microeconomic Theory