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, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model …
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, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model …
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entrepreneurial class is smaller under free trade than would be first-best optimal in the presence of efficient risk …
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entrepreneurial class is smaller under free trade than would be first-best optimal in the presence of efficient risk …
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