question by exploring the efficiency properties of equilibria in an overlapping generations setting with endogenous fertility …Fertility rates are declining in many countries. But are fertility rates inefficiently low? This paper addresses this … and dynastic parental altruism, using the notion of -efficiency proposed by Golosov, Jones and Tertilt (2007). In contrast …

"Malthusian stagnation" result. Furthermore, optimal allocations exhibit inequality, differential fertility, random consumption … environments characterized by fixed resources, endogenous fertility, and full information. Individuals in our environment are fully … et al. (2007). We also show that efficient allocation in the endogenous fertility case differs significantly from its …

who are not born. We show how these concepts relate to the notion of Pareto-efficiency when fertility is exogenous. We …In this paper, we generalize the notion of Pareto-efficiency to make it applicable to environments with endogenous … populations. Two efficiency concepts are proposed, P-efficiency and A-efficiency. The two concepts differ in how they treat people …

who are not born. We show how these concepts relate to the notion of Pareto-efficiency when fertility is exogenous. We …In this paper, we generalize the notion of Pareto-efficiency to make it applicable to environments with endogenous … populations. Two efficiency concepts are proposed, P-efficiency and A-efficiency. The two concepts differ in how they treat people …

This paper explores the properties of the notions of A-efficiency and P-efficiency, proposed by Golosov, Jones and … Tertilt (Econometrica, 2007), to evaluate allocations in a general overlapping generations setting in which fertility choices … identifies potential agents by their position in their siblings' birth order --as Golosov, Jones and Tertilt do--, then A-efficiency …