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Suboptimality with land

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Kokonas, Nikos and Polemarchakis, H. M. (2015) Suboptimality with land. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1103). (Unpublished)

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Abstract

In a stochastic economy of overlapping generations subject to uninsurable risks, competitive allocations need not be constrained optimal. This is the case even in the presence of long-lived assets and no short sales.

Item Type: Working or Discussion Paper (Working Paper)
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Economic development , Stochastic models, Land, Interest rates , Uncertainty
Series Name: Warwick economics research papers series (WERPS)
Publisher: University of Warwick. Department of Economics
Place of Publication: Coventry
ISSN: 0083-7350
Official Date: December 2015
Dates:
DateEvent
December 2015Available
Number: 1103
Number of Pages: 22
Institution: University of Warwick
Status: Not Peer Reviewed
Publication Status: Unpublished
Access rights to Published version: Open Access
Description:

Also appears as CRETA Discussion Paper No. 13

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