Hammond, Peter J. (contributor) - 2007
DEPARTMENT OF ECONOMICS
History: Sunk Cost, or Widespread Externality?
Peter J. Hammond
Department of Economics, University of … uence future lump-sum transfers. This observation undermines
the second e ciency theorem of welfare economics and makes …
Hitotsubashi University during Autumn 1998, hosted by Kotaro Suzumura, when a second version
was prepared, and to the Economics …