An in-depth quantitative analysis is undertaken in this paper to assist the Southern African Development Community (SADC) Secretariat, member countries, and development partners in setting future regional investment priorities for agricultural research and development in the SADC region. A...

We present a production-based model in which agents have heterogeneous risk aversion and heterogeneous discount rates. When the less risk-averse agent is more impatient, the two types of agents can coexist for a long time. The heterogeneity in risk aversion and discount rate induces the wealth...