Prove Proposition 5.1.3. Proposition 5.1.3 (Aghion and Bolton). If yg > yg and y > yog, then
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Prove Proposition 5.1.3.
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Proposition 5.1.3 (Aghion and Bolton). If yg > yg and y > yog, then investor control is always efficient and feasible. g'
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