8. Appendix

Parameter values for Figure 1:

F(K,L) = K^0.5 L^0.25

F(K,L)_SOE = K^0.25 L^0.2

Q^S_L = w^0.5

Q^S_K = r^0.5

P = 2-Q

Parameter values for Figure 2:

F(K,L) = K^0.5 L^0.25

F(K,L)_SOE = K^0.25 L^0.2

Q^S_L = w^0.5

Q^S_K = r^0.5

P = 2-Q

n = 10

Parameter values for Figure 3:

F(K,L) = K^0.25 L^0.25

F(K,L)_SOE = K^0.25 L^0.25

Q^S_L = w^0.5

Q^S_K = r^0.5

P = 20-Q

Parameter values for Figure 4 and Figure 5:

F(K,L) = A K^a L^b

$$A \sim uniform(0.1,2)$$

$$a \sim uniform(0.1,0.9)$$

$$b \sim uniform(0.1,0.9)$$

F(K,L)_SOE = 5 K^0.25 L^0.2

Q^S_L = w^0.5

Q^S_K = r^0.5

P = 100-0.25 Q

Initial wage, rent and price are 1 for all experiments.