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The book examines the potential for decentralized economies to achieve efficient resource allocation over an infinite time horizon, addressing a fundamental issue in microeconomics. It builds on the insights of Malinvaud and Samuelson, who highlighted the limitations of price-guided systems in ensuring Pareto optimality. Through a collection of essays, the volume presents advanced research findings that deepen the understanding of these economic challenges and their implications beyond traditional frameworks.
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DECENTRALIZATION IN INFINITE HORIZON ECONOMIES, Mukul Majumdar
- Language
- Released
- 2015
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- (Hardcover)
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