Botticini, Maristella (contributor); … - 2004 - [Elektronische Ressource]
acknowledged. Botticini gratefully acknowledges financial support from a John
M. Olin Junior Faculty fellowship (2000-2001) and an …)andtrade(merchants
= M). Let w(o = F)=w
F
> 0 and w(o = M,e
s
;e,x)=w
M
be, respectively, the
earnings in agriculture and trade, which are …’s education (literacy) levels have a positive marginal product. Based
on these assumptions, a merchant’s earnings are,
w
M
(e,e
s …