Bibliograph

Decentralization in infinite horizon economies, editor Mukul Majumdar

Type

Label

Decentralization in infinite horizon economies, editor Mukul Majumdar

Language

eng

Bibliography note

Includes bibliographical references

Illustrations

illustrations

Index

no index present

Literary Form

non fiction

Main title

Decentralization in infinite horizon economies

Nature of contents

bibliography

Oclc number

934881509

Responsibility statement

editor Mukul Majumdar

Summary

Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics <U+0127> 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.--, Provided by publisher

Table Of Contents

Decentralization in Infinite Horizon Economies: An Introduction (Mukul Majumdar) -- Optimal Intertemporal Allocation Mechanisms and Decentralization of Decisions (Leonid Hurwicz and Mukul Majumdar) -- On Characterizing Optimal Competitive Programs in Terms of Decentralizable Conditions (Wiliam A Brock and Mukul Majumdar) -- Characterization of Intertemporal Optimality in Terms of Decentralizable Conditions: The Discounted Case (Swapan Dasgupta and Tapan Mitra) -- Intertemporal Optimality in a Closed Linear Model of Production (Swapan Dasgupta and Tapan Mitra) -- On Characterizing Optimality of Stochastic Competitive Processes (Yaw Nyarko) -- A Characterization of Infinite Horizon Optimality in Terms of Finite Horizon Optimality and a Critical Stock Condition (Tapan Mitra and Debraj Ray) -- A Necessary Condition for Decentralization and an Application to Intertemporal Allocation (Leonid Hurwicz and Hans F Weinberger) -- Decentralized Evolutionary Mechanisms for Intertemporal Economies: A Possibility Result (Venkatesh Bala, Mukul Majumdar and Tapan Mitra) -- Complements and Details (Mukul Majumdar) -- About the Book and Editor -- List of Contributors

Classification