The Economics of Exchange in the Eighteenth-Century ...
As listed in Table 1, by classifying certain goods as either producer (i.e., goods used in subsistence production) or luxury goods, Carlos and Lewis (2001) assumes that fur traders chose tb, tf, tl, e, and g to maximize a utility function , u(e,tl), subject to a fur production function, B=tb, a sustenance production function, S=f(g,tf), a ... ................
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