Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
4615262 | Journal of Mathematical Analysis and Applications | 2015 | 10 Pages |
Abstract
The existence of Markov perfect equilibria for a deterministic bequest game with bounded from below utility function was established independently by Bernheim and Ray [2] and Leininger [8]. The aim of this paper is to provide a simpler proof that, in contrast to [2] and [8], also works for models with unbounded, e.g., isoelastic utility functions. Our approach employs the concept of strict single crossing property, introduced by Milgrom and Shannon in [10], and includes supermodular functions as special cases.
Related Topics
Physical Sciences and Engineering
Mathematics
Analysis
Authors
Łukasz Balbus, Anna Jaśkiewicz, Andrzej S. Nowak,