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Item Details
Title: DECENTRALIZATION IN INFINITE HORIZON ECONOMIES
By: Mukul Majumdar (Editor)
Format: Hardback

List price: £85.00
Our price: £76.50
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ISBN 10: 9814699624
ISBN 13: 9789814699624
Availability: Usually dispatched within 1-3 weeks.
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Publisher: WORLD SCIENTIFIC PUBLISHING CO PTE LTD
Pub. date: 21 November, 2015
Pages: 216
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?
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.
Publication: Singapore
Imprint: World Scientific Publishing Co Pte Ltd
Returns: Returnable
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