Suboptimality with land

Nikos Kokonas; Herakles  Polemarchakis

Suboptimality with land

Nikos Kokonas
, Herakles Polemarchakis

Department of Economics

University of Warwick

Research output: Working paper / Preprint › Working paper

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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.

Original language	English
Place of Publication	Bath, U. K.
Publisher	Department of Economics, University of Bath
Publication status	Published - 18 Jan 2016

Publication series

Name	Bath Economics Research Working Papers
Volume	45/15

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Suboptimality with land

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