Koopmans recursive preferences and income convergence
Article Abstract:
The many-agent Ramsey model (MARM) without integrated capital markets (ICM) gives income convergence. Analysis indicates that the problem with the original Ramey model may not be that it is special case of Koopmans recursive preferences, but rather it is an instance of Koopmans recursive preferences.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2004
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A metric for assessing the "goodness" of income distributions and the effect of price changes
Article Abstract:
A metric for assessing the "goodness" of particular income distributions is proposed. It is used to study the effect of price changes on the "goodness" of a given distribution keeping in mind that social welfare evaluation depends on value judgments as to income distribution.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
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Welfare comparisons with bounded equivalence scales
Article Abstract:
Two criteria to compare income distribution for heterogenous population are considered. The first criterion utilizes equivalence scale that is axiomatized by Ebert. The second criterion makes use of dominance inspired from Atkinson and Bourguignon.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
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