Two-Sided Altruism, Lindahl Equilibrium, and Pareto Optimality in Overlapping Generations Models

10 Pages Posted: 6 Nov 2005

See all articles by Lakshmi K. Raut

Lakshmi K. Raut

U.S. Social Security Administration

Abstract

This paper extends the Samuelsonian overlapping generations general equilibrium framework to encompass a variety of altruistic preferences by recasting it into a Lindahl equilibrium framework. The First and the Second Welfare theorems hold for Lindahl equilibrium with respect to the Malinvaud optimality criterion but not with respect to the Pareto optimality criterion. A complete characterization of Pareto optimal allocations is provided using the Lindahl equilibrium prices.

Note: This is a description of the paper and not the actual abstract.

Keywords: Altruism, Lindahl Equilibrium, Pareto Optimality, Overlapping Generations

JEL Classification: D51, D62, D64, C62

Suggested Citation

Raut, Lakshmi K., Two-Sided Altruism, Lindahl Equilibrium, and Pareto Optimality in Overlapping Generations Models. Economic Theory, Vol. 27, No. 3, pp. 729-736, April 2006, Available at SSRN: https://ssrn.com/abstract=832424

Lakshmi K. Raut (Contact Author)

U.S. Social Security Administration ( email )

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