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Suboptimality with land

Kokonas, Nikos; Polemarchakis, Herakles
2015
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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.

Details

Title
Suboptimality with land
Keywords
Author(s)
Kokonas, Nikos
Polemarchakis, Herakles
Subject(s)
Issue Date
12/26/2015
Publication Type
Working or Discussion Paper
Digital Object Identifier
https://doi.org/10.22004/ag.econ.269722
Record Identifier
https://ageconsearch.umn.edu/record/269722
Language
English
Total Pages
25
JEL Codes
D52
D61
Series Statement
WERP 1103
Record Appears in
University of Warwick - Department of Economics > Economic Research Papers

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