%0 Journal Article
%T What Is the Natural Weight of the Current Old?
%A Damien Gaumont
%A Daniel Leonard
%J Theoretical Economics Letters
%P 257-261
%@ 2162-2086
%D 2013
%I Scientific Research Publishing
%R 10.4236/tel.2013.35043
%X <span>We consider a simple overlapping generations model with an externality ид la Arrow-Romer</span><span> </span><span>[1</span><span>,</span><span>2] and a government with fiscal powers. If it wishes to maximize a criterion depending on the lifelong utility of agents, is there a natural weight for the utility of the current old? We show in a simple example that this weight depends on the specific features of the model, in particular the length of the horizon, and cannot be chosen arbitrarily. Our result has a neat economic interpretation</span><span> [2]</span><span>.</span><span></span>
%K Overlapping Generations Model
%K Learning-by-Doing
%K Social Welfare
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=38131