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Consider a two-consumer, infinite horizon economy. Consumers can buy and sell claims on consumption q; in period i = 1,2, 3, ... at unit price pi. Consumer J = A, B owns w;! units of the consumption

Consider a two-consumer, infinite horizon economy. Consumers can buy and sell claims on consumption q; in period i = 1,2, 3, ... at unit price pi. Consumer J = A, B owns w;! units of the consumption good in period i = 1, 2, 3, ..., and her utility from consumption path (27,0), 23,...) is Bi-v"(x-1) ="(27) + Bu" (23) +B?u" (23) + ... , 2=1 where 0

4. [3] Consider a two-consumer, infinite horizon economy. Consumers can buy and sell claims on consumption q; in period i = 1

May 11 2021 View more View Less

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