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Decentralization in Infinite Horizon Economies

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AuthorMajumdar Mukul
ISBN9789814699624
Published LanguageEnglish
Publication Year2015
PublisherWorld Scientific
BindingHardback
Original Price$102
Pages216
Ships By2-3 days

Description

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 the author
Cornell Univ, USA

Additional information

Weight0.448 kg
Dimensions22.9 × 15.2 cm
Author

ISBN

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Pages

216

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2-3 days