This paper examines the optimal allocation of risk in an overlapping-generations economy. It compares the allocation of … risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian 'veil of …

with analysing the allocation of resources among productive uses and the distribution of the resulting product. But, this … effective property rights that inform allocation and distribution are themselves an alternative use of scarce resources ….This paper develops two canonical general-equilibrium models of resource allocation and income distribution that allow for the …

case and may affect the allocation of litigation costs. Specifically, if the parties litigate to judgment, then the … allocation of litigation costs may depend on how the judgment compares with the special offer. This paper develops a model of …

When there are binding price controls, there are shortages and the allocation of goods across consumers may not be …

This paper identifies a cost of using the price system and from that develops a general theory of allocation. The … theory explains why a buyer's stochastic purchasing behavior matters to a seller. This leads to a theory of optimal customer … mix much akin to the theory of optimal portfolio composition. It is the job of a firm's marketing department to put …

This paper presents estimates of static and dynamic general equilibrium resource allocation effects for four … dynamic resource allocation effects are sensitive to the choice of the replacement tax, while static gains are reasonably …