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The Financing of a Public Utility

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  • Eric Smith
  • Martin Shubik

Abstract

The interaction of capital stock with overlapping generations is investigated where the time structures of human capital and other physical capital does not match. We consider the economies with either gold or fiat as the outside money and consider the financing problems that appear in the financing of capital stock. The complexity of the underlying physical structure combined with concern for efficiency and equity help to determine the financial structure.

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Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 786969000000000532.

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Date of creation: 11 Sep 2012
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Handle: RePEc:cla:levarc:786969000000000532

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  1. Drew Fudenberg & David K. Levine, 1996. "The Theory of Learning in Games," Levine's Working Paper Archive 624, David K. Levine.
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