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Recursive Equilibrium in Stochastic Overlapping‐Generations Economies
Author(s) -
Citanna Alessandro,
Siconolfi Paolo
Publication year - 2010
Publication title -
econometrica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.7
H-Index - 199
eISSN - 1468-0262
pISSN - 0012-9682
DOI - 10.3982/ecta7219
Subject(s) - overlapping generations model , economics , residual , set (abstract data type) , mathematical economics , mathematics , econometrics , microeconomics , computer science , algorithm , programming language
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.