The name is absent



T he... rst panel can be the resu Itofthe fol Owing parameters

P arameteιs

V alues

° _

cT6

qK

15

x

10

i

1.05

h  ~

0.7

w

1

±   ~

4. 2857

which give rise tothefollowingvaluesforkey variables in the model:

V alues

w + ±h

^4

° e;q

0.733

° e;nq

0.233

T herefore, non-quali.ed workers are53.66% ofprogenitors, non-quali.ed
entrepreneurs 16.33%, quali.ed workers 21.99%. Thequali.ed percentageof
the population is 3%. M ostofthe agents are therefore non-quali.ed workers
and mostofthe quali.ed agents are entrepreneurs.

Thesecond scenariois theresult, ceteris paribus, ofadecreasein thecost
ofeducation, which implies a decrease ofquali.ed entrepreneurs’ pro.tand
ofquali.ed workers’wage. Vice versa the decrease in the costofeducation
implies an increase in the thιehod CvcI cfιnelαency. A naogously the
share of entrepreneurs among quali.ed people increases. The parameters
which determine this scenarioare the following:

P arameteιs

V alues

° _

01

qK

15

x

10

i

1.05

h  ~

0.5

w

1

±   ~

4. 2857

From these parameters itfollows that:

13



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