Mankiw principles of micro economics 5th

... finite-dimensional version of the theorem is needed  170 CHAPTER 17 THE EXPECTATIONS AND PRICING KERNELS and y1 = x Z − xZ 2 + y2 ( 17. 15) Eqs 17. 14 and 17. 15 imply that xZ − xZ 2 =0 ( 17. 16) so, by the ... Then 17. 25 implies kf · x = z (z · z) F (x)(z · z) = F (x), z·z ( 17. 25) ( 17. 26) ( 17. 27) so that kf satisfies 17. 23 It remains to show that kf is unique If there are kf...

Ngày tải lên: 09/08/2014, 19:22

... pricing: A simplified approach Journal of Financial Economics, 7:2 29 263, 197 9 [5] Roger Guesnerie and J.-Y Jaffray Optimality of equilibrium of plans, prices, and price expectations In J Dr`ze, editor, ... Economic Studies, pages 91 96 , 196 4 [2] Fischer Black and Myron Scholes The pricing of options and corporate liabilities Journal of Political Economy, 81:637–654, 1...

Ngày tải lên: 09/08/2014, 19:22

... the form of goods and services rather than cash are called in-kind transfers Standard measurements of the degree of inequality not take account of these in-kind transfers Because in-kind transfers ... total amount of income— $100,000 in our example—were fixed But, in fact, it is not Utilitarians reject complete equalization of incomes because they accept one of the Ten Princi...

Ngày tải lên: 18/10/2013, 00:15