Balbus, Łukasz; Reffett, Kevin; Woźny, Łukasz - In: Journal of Mathematical Economics 48 (2012) 2, pp. 115-132
We introduce a new class of infinite horizon altruistic stochastic OLG models with capital and labor, but without commitment between the generations. Under mild regularity conditions, for economies with either bounded or unbounded state spaces, continuous monotone Markov perfect Nash equilibrium...