Wynne, Jose - Society for Economic Dynamics - SED - 2005
, Fuqua School of Business.
†
I am thankful for useful comments, suggestion and encouragement from John Coleman, Boyan … whether he will remain in business or exit. With
probability p entrepreneurs keep their market and produce successfully for … contingent on continuation for each type. If the manager
succeeds to produce and remains in business, the next period wealth is …