examine the effect of parameters governing technology and transaction costs, andhistory, in terms of the initial wealth … distribution, in determining the long-term wealth distributionand the level of per capita income of an economy.[...] …

Effective provision of public goods is a key determinant of quality of life. Conventional approaches to poverty …

We analyze the effect of inequality in the distribution of endowment of a private input (briefly,wealth) that is … isresolved in a decentralized manner, we characterize the optimal second-best distribution of wealth.We show that while effciency …