Equity, Efficiency and Increasing Returns
نویسندگان
چکیده
منابع مشابه
Equity and efficiency in non-convex economies
The objective of this paper is to consider the following question. Does the presence of increasing returns introduce a fundamental trade-off between equity and efficiency objectives? We show that if the no-envy notion of Foley (1967) is taken as the equity criterion and Pareto optimality as the efficiency criterion, then the answer is yes; there exist economies with increasing returns and well-...
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