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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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2023
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| 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 |