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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 (Unpublished)
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Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
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) | ||||
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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: |
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Number: | 1103 | ||||
Number of Pages: | 22 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Description: | Also appears as CRETA Discussion Paper No. 13 |
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