Decentralizability of efficient allocations with heterogenous forecasts

Decentralizability of efficient allocations with heterogenous forecasts

Do price forecasts of rational economic agents need to coincide in perfectly competitive complete markets? To address this question, we define an efficient temporary equilibrium (ETE) within the framework of a two period economy. Although an ETE allocation is intertemporally efficient and is obtaine...

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Bibliographic Details
Main Authors: CHATTERJI, Shurojit, KAJII, Atsushi
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2023
Subjects:
General equilibrium
Efficient temporary equilibrium
Endogenous price forecasts
Indeterminacy
Economic Theory
Online Access:https://ink.library.smu.edu.sg/soe_research/2428
https://ink.library.smu.edu.sg/context/soe_research/article/3427/viewcontent/DecentralizabilityEA_sv.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/2428
https://ink.library.smu.edu.sg/context/soe_research/article/3427/viewcontent/DecentralizabilityEA_sv.pdf

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