1 Let " = = for t=0,1,2. Consider two different endowment allocations. The first is " = ' when = 0,2 and " = ( when = 1. The second is " = ( when = 0,2 and " = ' when = 1. In both cases ( > '. Derive the equilibrium allocation of consumption and assets under both types of endowment. Provide an economic interpretation of your results