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Decentralization In Infinite Horizon Economies, Hardback Book

Decentralization In Infinite Horizon Economies Hardback

Edited by Mukul (Cornell Univ, Usa) Majumdar

Hardback

Available to Order - This title is available to order, with delivery expected within 2 weeks

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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.

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Available to Order - This title is available to order, with delivery expected within 2 weeks
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