Köppl, Thorsten V. (contributor); … - 2000 - [Elektronische Ressource]
,
where c
t
L,i
is the amount consumed by type t lenders in stage t.
Ex-ante preferences are given by E[u
L
(c
1
L,i
,c
2
L …-ante preferences are then given by E[u
B
(c
V
B,i
,c
0
B,i
;π
i
)] ≡ E
˜π
i
[˜π
i
(c
V
B,i
+ Vh)+(1−
˜π
i
)c
0
B,i
].
6
C. Uncertainty … and a unit of an indivisible collat-
eral good. To initiate the project an amount x>0 of the consumption good must be …