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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.
Autorius: | Mukul Majumdar |
Leidėjas: | World Scientific |
Išleidimo metai: | 2015 |
Knygos puslapių skaičius: | 216 |
ISBN-10: | 9814699624 |
ISBN-13: | 9789814699624 |
Formatas: | 235 x 157 x 16 mm. Knyga kietu viršeliu |
Kalba: | Anglų |
Parašykite atsiliepimą apie „DECENTRALIZATION IN INFINITE HORIZON ECONOMIES“