Efficient Allocations with Hidden Income and Hidden Storage
نویسندگان
چکیده
منابع مشابه
Efficient Allocations with Hidden Income and Hidden Storage
We consider an environment in which individuals receive income shocks that are unobservable to others and can privately store resources. We provide a simple characterization of the unique efficient allocation of consumption in cases in which the rate of return on storage is sufficiently high or, alternatively, in which the worst possible outcome is sufficiently dire. We show that, unlike in env...
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ژورنال
عنوان ژورنال: Review of Economic Studies
سال: 2001
ISSN: 0034-6527,1467-937X
DOI: 10.1111/1467-937x.00179