Decentralization in Infinite Horizon Economies
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Book Overview
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.
Format:Hardcover
Language:English
ISBN:9814699624
ISBN13:9789814699624
Release Date:December 2015
Publisher:World Scientific Publishing Company
Length:216 Pages
Weight:1.00 lbs.
Dimensions:0.6" x 6.2" x 9.1"
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