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Law and Economics course, going over Shavell 2011 paper, specifically proposition 4. The first claim is that ?= 1 and assumes t= 0 and if
Law and Economics course, going over Shavell 2011 paper, specifically proposition 4.
The first claim is that ?= 1 and assumes t= 0 and if ?
which gives this equation
?b(x*(py))-x*(py)y > b(x*(?py))-x*(?py)y
but im unsure exactly what the equation means.
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