The name is absent



P arameters

V alues

° _

0:99

qK

11:55

x

10

i

1:05

h  ~

0 :9

w

1

±   ~

4:2857

which gives rise to:

V alues

w + ±h

4:857

° eq

0:5704

° enq

0:00433

T he reduction ofthegross return perunitofeX ciency impies a decrease
ofthepro>..tabi ityofentrepreneurship. A ctuallycu∣ai...ed entrepreneurs are
5. % , whi e non-cuai...ed entrepreneurs are0.39% Cfthepopulation. N on-

cuali.ed workers are 89.6% and cuali.ed workers are 4.3% ofprogenitors.

T able 2 summarizes the occupational structure of progenitors in each
scenario

I

II

III

IV

W ,N Q

0.5366

0.3833

0.69

0.89 6

E,N Q

0.1633

0.1166

0.2099

0.0039

W ,Q

0.08

0.205

0.01239

0.042 6

E,Q

0.2199

0.29 5

0.08 6

0.05

T able 2: progenitors’ occupational structure.

3.1   ... WHENTECHNICAL IN EFFICIEN CY ISEX-

CLUSIVELY G EN ETIC (½=1)

I start analyzing the wealth accumulation dynamics and long- run ecuilib-
ria when technical ineΦ ciency is exclusivey genetic. T his impies ½ = 1 in
ecuation 1. In this case the wealth accumulation process is deterministic
and exclusively determined by progenitors' characteristics (degree ofineC-
ciencyand wealth). G raphicallyitmeans thatadynasty accumulates wealth
accordingtoa unicue accumulation function.

15



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