Suboptimality with land

Nikos Kokonas, Herakles Polemarchakis

Research output: Working paper / PreprintWorking 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 languageEnglish
Place of PublicationBath, U. K.
PublisherDepartment of Economics, University of Bath
Publication statusPublished - 18 Jan 2016

Publication series

NameBath Economics Research Working Papers
Volume45/15

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