Decentralization In Infinite Horizon Economies - 9780367165819

CRC Press

This book summarizes some issues involved in developing a theory of decentralized resource allocation mechanism in infinite horizon economies. It constitutes a definitive account of cutting-edge research on a topic of continuing importance in price theory. . > This book summarizes some issues involved in developing a theory of decentralized resource allocation mechanism in infinite horizon economies. It constitutes a definitive account of cutting-edge research on a topic of continuing importance in price theory. . > Decentralization in Infinite Horizon Economies: An Introduction; Optimal Intertemporal Allocation Mechanisms and Decentralization of Decisions; On Characterizing Optimal Competitive Programs in Terms of Decentralizable Conditions; Characterization of Intertemporal Optimality in Terms of Decentralizable Conditions: The Discounted Case; On Characterizing Optimality of Stochastic Competitive Processes; A Characterization of Infinite Horizon Optimality in Terms of Finits