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Probabilistic assignment of objects: Characterizing the serial rule

โœ Scribed by Anna Bogomolnaia; Eun Jeong Heo


Book ID
119295714
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
168 KB
Volume
147
Category
Article
ISSN
0022-0531

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This note offers a general proof of the converse of Hartwick's rule, namely thatin an economy with stationary instantaneous preferences and a stationary technologyan efficient constant utility path is characterized by the value of net investments being zero at each point in time. In a one consumptio