Sergio O. Parreiras | Economics Department, UNC at Chapel Hill
ECON 510: Microeconomic Theory | Fall 2026
The economy can be in one of three states:
Discount factor: $\delta \in (0,1)$
As the modeler, specify what information is revealed at periods $t > 0$. We assume here that consumers know nothing at $t = 0$ but alternative assumptions are possible.