Abstract
The observation that the future has no natural termination date suggests the need of an infinite horizon in economic analysis. One of the recurrent questions in this general setting is: Under what conditions can efficient allocations be attained by a price-mechanism in decentralized systems, achieving economy of information and utilizing individual incentives?
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.