which is used for updating beliefs. Thus, a better information system affects the distribution of human capital in each …) If the relative measure of risk aversion is less (more) than 1 then more information raises (reduces) income inequality …. (b) When a risk sharing market is available better information results in higher inequality regardsless of the measure …

which is used for updating beliefs. Thus, a better information system affects the distribution of human capital in each …) If the relative measure of risk aversion is less (more) than 1 then more information raises (reduces) income inequality …. (b) When a risk sharing market is available better information results in higher inequality regardless of the measure of …

environments characterized by fixed resources, endogenous fertility, and full information. Individuals in our environment are fully …

the state of the world. Under the full information sharing technology, individuals exchange the information about their …. Under the limited information sharing technology, agents observe the point estimates but not precisions, and update their … without access to the precision information will not guide the population (or even a fraction of its members) to converge to a …