Consider an agent with CES utility functionu(x1, x2) = 11 − σ(ασ1 x1−σ1 + ασ2 x1−σ2),where α1, α2, σ > 0 are parameters. (As usual, σ = 1 corresponds to […]
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Consider an agent with CES utility functionu(x1, x2) = 11 − σ(ασ1 x1−σ1 + ασ2 x1−σ2),where α1, α2, σ > 0 are parameters. (As usual, σ = 1 corresponds to […]