Social Optimum in an OLG Model with Paternalistic Altruism

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23 novembre 2011

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HAL SHS (Sciences de l’Homme et de la Société)

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Archives ouvertes

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Centre pour la communication scientifique directe

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info:eu-repo/semantics/OpenAccess

Mots-clés En

Optimal balanced growth path social welfare function paternalistic altruism

Sujets proches En

Unselfishness Altruistic behavior

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Marion Davin et al., « Social Optimum in an OLG Model with Paternalistic Altruism », HAL SHS (Sciences de l’Homme et de la Société), ID : 10670/1.9ea021...

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There is no consensus yet on the correct way to write the social utility function in presence of paternalistic altruism. This note shows that the speci cation of the central planner objective is crucial for optimal capital intensity and optimal growth in a one and a two-sector models. In a one-sector model, optimal growth depends on preferences when paternalistic altruism enters the social utility function; otherwise it does only depend on the capital share as in the standard golden rule. In a two-sector model, optimal growth depends on preferences and relative capital intensities when paternalistic altruism enters the social utility function; otherwise it does only depend on the capital share of the investment good sector. Moreover, both in a one and a two sector model, the optimal growth rate tends to be higher when warm-glow altruism enters the social utility function.

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