Title

The Price for the Widow's Cruse: Or the Value of an Infinitely Productive Asset

Authors

Martin Shubik

Document Type

Discussion Paper

Publication Date

10-1-1990

CFDP Number

959

CFDP Pages

6

Abstract

This paper considers two basic problems: The first is the necessity for introducing government money (as contrasted with individual credit) and an infinitely lived government in an overlapping generations economy. The second concerns the evaluation of the price of an infinitely productive asset in an economy without a natural discount factor.

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