ECONOMIC DYNASTIES WITH INTERMISSIONS

We consider a model of successive generations with a fixed proportion of selfish and altruistic members in each individual's offspring. In c ontrast with the others, selfish members bequeath nothing to their own children. We assume that parents cannot recognize their heirs' types and that negative bequests are forbidden. We study Markov perfect equi libria of this multistage game of incomplete information and their imp lications for wealth distribution. Journal of Economic Literature Clas sification Numbers: D31, D64, D91, H63, (C) 1998 Academic Press.