highlight the distinction between planner optimization and household optimization. We show that planner optimization is a … partial substitute for household optimization and that this is still true when households have private in- formation about … household optimization are also implied by planner optimization. A rational utilitarian planner enacts policies that cause the …

by household optimization also arise in an economy with a rational planner who uses tools such as default savings and … highlight the distinction between planner optimization and household optimization. We show that planner optimization is a … substitute for household optimization and that this is true even when there are information asymmetries, so that households know …