Quintin, Erwan; Stevens, John J. - 2003
, in steady state,
1. w
H
<w
L
,
2. s
L
s
H
with a strict inequality if and only if s
H
> 0,
3
See Quintin and Stevens … inequality if and only if s
H
> 0.
Proof. Existence and uniqueness can be established with standard arguments (see Quintin
and … argue that p
H
[V
H
(2)−V
H
(1)] >p
L
[V
L
(2)−V
L
(1)].
Assume that this inequality does not hold. Then, because w
L
>w
H …