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- Publisher
- Wiley
- Copyright
- The Editors of the Scandinavian Journal of Economics 2000
- ISSN
- 0347-0520
- eISSN
- 1467-9442
- DOI
- 10.1111/1467-9442.00188
- Publisher site
- See Article on Publisher Site
Abstract
We construct an overlapping generations model of pollution externality in which individuals are altruistically linked to their offspring as in Barro (1974). It is shown that steady‐state consumption may be a decreasing function of the intergenerational degree of altruism. Despite individuals' altruism, the competitive equilibrium is not optimal. We thus study the social optimum and show that it can be decentralized. JEL classification: D62; D64; D91
Journal
The Scandinavian Journal of Economics – Wiley
Published: Mar 1, 2000