#' Melzer Richard Illustration
#'
#' gt_plot_mr plots returns to actors in a Melzer RIchard economy given an endowment e
#' @param e Endowment
#' @param t tax range
#' @param gt_mr_distribution function showing distribution given taxes
#' @param gt_mr_production function giving production given taxes
#' @param gt_mr_maxu function giving max utility given endowment
#' @param gt_mr_utility function giving utility given taxes
#' @param main Main title
#' @keywords Melzer Richard, Tax
#' @export
#' @examples
#' #Illustration of bargaining outcomes from possibility set
#' gt_plot_mr(e=.5, main = "Endowment = .5")
gt_plot_mr <- function(endowment = .5,
e = endowment,
tax = seq(0,1,.01),
ymax = gt_mr_utility(gt_mr_maxu(e), e),
main = paste("Endowment =",e),
xlab = "",
scale = 1,
ylab="",
color = "grey",
gt_mr_distribution = function(tax, e) tax*(1-tax)/2,
gt_mr_production = function(tax, e) (1-tax)^2*e/4 ,
gt_mr_utility = function(tax, e) (gt_mr_distribution(tax, e) + gt_mr_production(tax, e)),
gt_mr_maxu = function(e) (1-e)/(2-e)
){
plot(tax, scale*gt_mr_distribution(tax, e), type = "l",
ylim = c(0, ymax),
xlab = xlab,
ylab = ylab,
axes = FALSE,
main = main
)
rect(par("usr")[1], par("usr")[3], par("usr")[2], par("usr")[4], col =
color)
lines(tax, scale*gt_mr_distribution(tax, e))
axis(2, at = c(0, 1))
axis(1, at = c(0, .5, 1))
lines(tax, scale*gt_mr_production(tax, e), lty = 2)
lines(tax, scale*gt_mr_utility(tax, e), col = "red")
points(gt_mr_maxu(e), scale*gt_mr_utility(gt_mr_maxu(e), e), col = "red", bg = "red", pch = 16)
box()
}
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