Optimality in an OLG model with nonsmooth preferences

It is a well‐known observation that, in the overlapping generations (OLG) model with the complete market, we can judge optimality of an equilibrium allocation by examining the associated equilibrium price. Motivated by recent development in decision theory under ambiguity, this study reexamines the...

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Veröffentlicht in:	International journal of economic theory 2023-09, Vol.19 (3), p.611-659
1. Verfasser:	Ohtaki, Eisei
Format:	Artikel
Sprache:	eng
Schlagworte:	Ambiguity conditional golden rule optimality conditional Pareto optimality Decision analysis dominant root criterion Equilibrium nonsmooth preference Prices stochastic overlapping generations model
Online-Zugang:	Volltext
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