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Consider a deterministic endowment economy with two types of agents. Time lasts for two periods, t and t + 1. There is no uncertainty. Type
Consider a deterministic endowment economy with two types of agents. Time lasts for two periods, t and t + 1. There is no uncertainty. Type A agents are "rich" - they have an endowment stream of Yt(A) = Yt+1(A) = 3/2. Type B agents are "poor" - they have an endowment stream of Yt(B) = Yt+1(B) = 1/2
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An Inquiry Into The Nature And Causes Of The Wealth Of Nations
Authors: Adam Smith, R H Campbell
1st Edition
0865970068, 9780865970069
