Seghir, Abdelkrim and Salem, Sherif (2010): In nitelylived agents via twosided altruism.
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Abstract
In an incomplete market with two sided altruistic agents and default.We show equilibrium existence if members of a dynasty act in an individualistic way by maximizing their own intergenerational utility functions. We also illustrate that a dynasty may end doing Ponzi schemes if its members act in a collectivistic way by maximizing a dynasty's collectivistic utility. We also prove that Ponzi schemes are ruled out and equilibrium existence is restored if there exist, always in the future, some agents who are not too altruistic either towards their parents or their ospring.
Item Type:  MPRA Paper 

Original Title:  In nitelylived agents via twosided altruism 
Language:  English 
Keywords:  InnitelyLived Agents, TwoSided Altruism, Individualistic Equilibrium, Collectivstic Equilibrium. 
Subjects:  D  Microeconomics > D9  Intertemporal Choice and Growth > D91  Intertemporal Consumer Choice; Life Cycle Models and Saving D  Microeconomics > D6  Welfare Economics > D64  Altruism; Philanthropy D  Microeconomics > D5  General Equilibrium and Disequilibrium > D52  Incomplete Markets 
Item ID:  31379 
Depositing User:  Sherif Gamal Salem 
Date Deposited:  09. Jun 2011 20:45 
Last Modified:  13. Feb 2013 04:29 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/31379 
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