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Overlapping Generations Models and Graded Age-Set Societies

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  • Merwan H. Engineer
  • Linda Welling

Abstract

From Africa through North America to Asia, anthropologists have found societies with formalized age-group systems. In these societies, social and economic relations between individuals are regulated by well-established rules governing transitions through the lifecycle. In this paper we detail the relationship between the classic formulations in Stewart's [1977] Fundamentals of Age-Group Systems and the overlapping generations (OLG) model. We establish that OLG models can accurately represent a large subset of actual age-group societies called graded age-set societies. Thus, an OLG model bears a close resemblance to reality.

Suggested Citation

  • Merwan H. Engineer & Linda Welling, 2004. "Overlapping Generations Models and Graded Age-Set Societies," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 454-476, September.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200409)160:3_454:ogmaga_2.0.tx_2-z
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    Cited by:

    1. Merwan H. Engineer & Ming Kang & Eric Roth & Linda Welling, 2006. "Overlapping Generations Models of an Age-Group Society: The Rendille of Northern Kenya," 2006 Meeting Papers 248, Society for Economic Dynamics.

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    JEL classification:

    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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