Investments in education and welfare in a two-sector, random matching economy

We consider a random matching model where heterogeneous agents choose optimally to invest time and real resources in education. Generically, there is a steady state equilibrium where some agents, but not all of them, invest. Regular steady state equilibria are constrained inefficient in a strong sen...

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Bibliographic details
Volume: 48
Main Author: Mendolicchio, Concetta
Paolini, Dimitri
Pietra, Tito
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: LAUSANNE Elsevier B.V 01.12.2012
published in: Journal of mathematical economics Vol. 48; no. 6; pp. 367 - 385
Data of publication: December 2012
ISSN: 0304-4068
Discipline: Economics
Online Access: available in Bonn?
Database: Web of Knowledge
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