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Library Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights

Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights

Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights

Resource information

Date of publication
December 2005
Resource Language
ISBN / Resource ID
AGRIS:US2012204291

To address the question, "Should we expect government policy to be
efficient?" at its roots, I modify the well-known Arrow-Debreu
private ownership economy, allowing property rights to be violable.
The result is that equilibria tend to be Pareto inefficient.

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Authors and Publishers

Author(s), editor(s), contributor(s)

Bullock, David S.

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