Mitra, Tapan; Sorger, Gerhard - In: Journal of Economic Theory 148 (2013) 5, pp. 1953-1976
Studying a one-sector economy populated by finitely many heterogeneous households that are subject to no-borrowing constraints, we confirm a conjecture by Frank P. Ramsey according to which, in the long run, society would be divided into the set of patient households who own the entire capital...