Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071643 | Games and Economic Behavior | 2015 | 10 Pages |
Abstract
In this paper, we prove the existence of a stationary Markov perfect equilibrium for a stochastic version of the bequest game. A novel feature in our approach is the fact that the transition probability need not be non-atomic and therefore, the deterministic production function is not excluded from consideration. Moreover, in addition to the common expected utility we also deal with a utility that takes into account an attitude of the generation towards risk.
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
Åukasz Balbus, Anna JaÅkiewicz, Andrzej S. Nowak,