applied to a business firm's dynamic problem of determining its optimum level of investment activity, when the longevity (life … span) of the investment is itself a variable determined by the level of investment. Usually, the longevity of an investment … is taken as given and fixed. Here, the level of investment activity has a dual effect, determining not only the longevity …

-demographic literature emphasizes differential fertility channel, this paper investigates differential child mortality - differences in child … mortality across income groups - as a critical link through which income inequality persists. Using an overlapping generations … model in which both child mortality and fertility are endogenously determined by parental choice, this paper demonstrates …