Decentralization in infinite horizon economies:

"Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics — can a decentralized economy attain an efficient or optimal allocation of resources when it is allowed to evolve without a predetermined term...

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Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Singapore World Scientific Publishing Co. Pte. Ltd. © 2016
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Online-Zugang:FHN01
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Zusammenfassung:"Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics — can a decentralized economy attain an efficient or optimal allocation of resources when it is allowed to evolve without a predetermined terminal date? The failure of a price-guided competitive system to ensure efficiency/Pareto optimality with an infinite horizon was exposed by Malinvaud and Samuelson. Subsequent research, reported in this volume, achieved a deeper understanding of the problem, and obtained definitive results that are of interest in a much broader framework."--
Beschreibung:Title from PDF file title page (viewed November 29, 2015)
Beschreibung:1 online resource (xxii, 193 p.) ill
ISBN:9789814699631

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