Asymptotic inequality of the market system |
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| Authors: | Ki Hang Kim Fred W Roush |
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| Institution: | Mathematical Social Sciences, Alabama State University, Montgomery, AL 36195, U.S.A. |
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| Abstract: | Do the rich get richer under the market system? We give models supporting such an idea on the basis of: (1) the utility function of the rich person increases at a slower rate and so he bargains for more, and (2) the poor person discounts the future at a higher rate than the rich person. |
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| Keywords: | Inequality Nash bargaining solution competitive equilibrium |
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