Decentralization in Infinite Horizon Economies

ISBN-13: 9780367165819 / Angielski / Miękka / 2022 / 194 str.

Mukul Majumdar

Opis

This book summarizes some issues involved in developing a theory of decentralized resource allocation mechanism in infinite horizon economies. It constitutes a definitive account of cutting-edge research on a topic of continuing importance in price theory. .

Spis treści

1. Decentralization in Infinite Horizon Economies: An Introduction 2. Optimal Intertemporal Allocation Mechanisms and Decentralization of Decisions 3. On Characterizing Optimal Competitive Programs in Terms of Decentralizable Conditions 4. Characterization of Intertemporal Optimality in Terms of Decentralizable Conditions: The Discounted Case 5. Intertemporal Optimality in a Closed Linear Model of Production 6. On Characterizing Optimality of Stochastic Competitive Processes 7. A Characterization of Infinite Horizon Optimality in Terms of Finite Horizon Optimality and a Critical Stock Condition 8. A Necessary Condition for Decentralization and an Application to Intertemporal Allocation 9. Decentralized Evolutionary Mechanisms for Intertemporal Economies: A Possibility Result 10. Complements and Details