1998RePEc: Research Papers in EconomicsRequires access

Determinacy of Equilibrium in an Overlapping Generations Model with Heterogenous Agents

Carine Nourry, A. Vendetti

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Abstract

We consider the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non altruistic agents having distinct utility functions. The proportions of each type of consumers is exogenously given. Such a model may be interpreted as both a particular case and an extension of the one considered by Muller and Woodford(1988) in which both finite and infinite lived agents coexist.

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We consider the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non altruistic agents having distinct utility functions. The proportions of each type of consumers is exogenously given. Such a model may be interpreted as both a particular case and an extension of the one considered by Muller and Woodford(1988) in which both finite and infinite lived agents coexist.

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Available abstract

We consider the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non altruistic agents having distinct utility functions. The proportions of each type of consumers is exogenously given. Such a model may be interpreted as both a particular case and an extension of the one considered by Muller and Woodford(1988) in which both finite and infinite lived agents coexist.

Key concepts: Determinacy, Overlapping generations model, Economics, Futures studies, Mathematical economics, Extension (predicate logic), Production (economics), Comparative statics

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