Efficient intertemporal allocations with recursive utility.

In this article, our objective is to determine efficient allocations in economies with multiple agents having recursive, non-time-additive utility functions. Our main result is to show that in a multi-agent economy, the problem of determining efficient allocations can be characterized in terms of a...

Full description

Bibliographic Details

Published in:	Journal of Economic Theory Vol. 93; no. 2; pp. 240 - 260
Main Authors:	Dumas, Bernard, Uppal, Raman, Wang, Tan
Format:	Article
Published:	Academic Press Inc. August 2000
Subjects:	Utility theory Dynamic programming Resource allocation > Mathematical models Stochastic processes
Online Access:	View this record in EBSCOhost