Recursive Equilibrium in Stochastic Overlapping-Generations Economies

Alessandro Citanna; Paolo Siconolfi

doi:10.3982/ECTA7219

Journal articles

Recursive Equilibrium in Stochastic Overlapping-Generations Economies

Alessandro Citanna ¹ Paolo Siconolfi ²

1 GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC

2 Graduate School of Business

Abstract : We prove the generic existence of a recursive equilibrium for overlapping-generations economies with uncertainty. "Generic" here means in a residual set of utilities and endowments. The result holds provided there is a sufficient number of potentially different individuals within each cohort.

Keywords : Overlapping generations Markov equilibrium recursive equilibrium transversality theorem

Document type :

Journal articles

Domain :

Humanities and Social Sciences / Economics and Finance / Economy and decision science

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https://hal-hec.archives-ouvertes.fr/hal-00537071
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Submitted on : Wednesday, November 17, 2010 - 3:54:12 PM
Last modification on : Friday, December 18, 2020 - 6:46:04 PM

Recursive Equilibrium in Stochastic Overlapping-Generations Economies

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