The outcomes of any economy will ultimately be determined by two broad classes of factors that may be subsumed under (1) environment and (2) economic system. Thus: https://s3-euw1-ap-pe-df-pch-content-public-p.s3.eu-west-1.amazonaws.com/9781315015217/8c20423d-6720-4e7a-81df-1bcb8156fbe6/content/ch8_page174-01_B.tif" xmlns:xlink="https://www.w3.org/1999/xlink"/> where ok is a vector of outcomes for economy k, ek is a vector of the states of the environment for that economy, and sk is a vector of system components.