Showing 1 - 10 of 14
result demonstrates that there is a fundamental conflict between efficiency and distributional goals in exchange economies if …
Persistent link: https://www.econbiz.de/10005459255
In the past quarter century, there has been a dramatic shift of focus in social choice theory, with structured sets of alternatives and restricted domains of the sort encountered in economic problems coming to the fore. This article provides an overview of some of the recent contributions to...
Persistent link: https://www.econbiz.de/10005752754
A social choice function satisfies the tops-only property if the chosen alternative only depends on each person's report of his most-preferred alternatives on the range of this function. On many domains, strategy-proofness implies the tops-only property, provided that the range of the social...
Persistent link: https://www.econbiz.de/10005585306
This article establishes versions of Moulin's [On strategy-proofness and single peakedness, Public Choice 35 (1980), 31--38] characterizations of various classes of strategy-proof social choice functions when the domain consists of all profiles of single-peaked preferences on an arbitrary subset...
Persistent link: https://www.econbiz.de/10008800718
The paper distinguishes between rigid price and flexible price versions of the Prescott (1975) “hotels” model. I focus on two dynamic models that allow for storage: The Bental and Eden (1993) model of all year round goods and the more recent Deneckere and Peck (2012) model of seasonal goods....
Persistent link: https://www.econbiz.de/10010875551
markets that open depends on the state of demand. I use three planner's problems to characterize various efficiency concepts …
Persistent link: https://www.econbiz.de/10011261652
entrepreneurial middle class from more productive manufacturing activities, reducing economic efficiency. If the country has a … of the pampered bureaucracy. Therefore, trade integration may actually reduce economic efficiency. The econometric …
Persistent link: https://www.econbiz.de/10009320355
economic efficiency. Trade liberalization is potentially destabilizing since it lowers the opportunity cost to the lower … pampered bureaucracy. Therefore, trade liberalization may actually reduce economic efficiency. The econometric results support …
Persistent link: https://www.econbiz.de/10008692910
motivated by efficiency considerations. I show that a tariff, for example, may lead to Pareto improvement. …
Persistent link: https://www.econbiz.de/10005459260
-of-trade externality on each other, collectively undermining their own terms of trade and welfare. This externality can increase efficiency …
Persistent link: https://www.econbiz.de/10005752749