Equilibrium points in n-person games ; The bargaining problem / John F. Nash, Jr. -- Non-cooperative games / John Nash -- An iterative method of solving a game / Julia Robinson -- Equivalence of games in extensive form / F.B. Thompson -- Extensive games and the problem of information / H.W. Kuhn...

Chapter from: 'Rising Inequality in China: Challenge to a Harmonious Society', edited by Shi Li, Hiroshi Sato and Terry Sicular.

This paper provides a new explanation why several US states have implemented supermajority requirements for tax increases. We model a dynamic and stochastic OLG economy where individual preferences depend on age and change over time in a systematic way. In this setting, we show that the first...