Relative Extinction of Heterogeneous Agents

In all the existing literature on survival in heterogeneous economies,the rate at which an agent vanishes in the long run relative to anotheragent can be characterized by the difference of the so-called survivalindices, where each survival index only depends on the preferencesof the corresponding agent and the properties of the aggregate endowment.In particular, one agent experiences extinction relative toanother (that is, the wealth ratio of the two agents goes to zero) ifand only if she has a smaller survival index.[...]