DECENTRALIZATION IN INFINITE HORIZON ECONOMIES - Hardcover

 
9789814699624: DECENTRALIZATION IN INFINITE HORIZON ECONOMIES
Hardcover
ISBN 10: 9814699624 ISBN 13: 9789814699624
Publisher: World Scientific Pub Co Inc, 2015

Synopsis

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.

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From the Back Cover

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.

"About this title" may belong to another edition of this title.

Publisher
World Scientific Pub Co Inc
Publication date
2015
Language
English
ISBN 10 
9814699624
ISBN 13 
9789814699624
Binding
Hardcover
Number of pages
193
Editor
Majumdar Mukul

Other Popular Editions of the Same Title

9780367165819: Decentralization In Infinite Horizon Economies

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ISBN 10:  0367165813 ISBN 13:  9780367165819
Publisher: CRC Press, 2022
Softcover