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A Model of Occupational Choice Applied to Rural Kenya

✍ Scribed by Germano Mwabu; Robert E. Evenson


Book ID
110958574
Publisher
John Wiley and Sons
Year
1997
Tongue
English
Weight
631 KB
Volume
9
Category
Article
ISSN
1017-6772

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This paper presents an application of the maximum principle and the generalized maximum principle (a recent extension of that principle) to a discrete-time model of consumer choice behaviour. The model includes two brands in a market and uses a non-stationary first-order Markov chain. The optimizati