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This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the 'right' love of wealth an optimum exists and implies higher...
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This paper aims at formulating econometric tools for investigating stochastic rationality, using the Random Utility …
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