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	Provedor de dados AgEcon (2) Autor Bullock, David S. (1) Karp, Larry S. (1) Palavra-chave Pareto efficiency (2) Research Methods/ Statistical Methods (2) D72 (1) D78 (1) D83 (1) Hyperbolic discounting (1) L50 (1) Markov equilibria (1) Non-uniqueness (1) Observational equivalence (1) Property rights (1) Time consistency (1) Mais... Tipo do documento Conference Paper or Presentation (1) Working or Discussion Paper (1) Ano 2005 (1) 2004 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights AgEcon Bullock, David S.. 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. Tipo: Conference Paper or Presentation Palavras-chave: Pareto efficiency; Property rights; Research Methods/ Statistical Methods; D72; D78. Ano: 2005 URL: http://purl.umn.edu/19444 Non-Constant Discounting in Continuous Time AgEcon Karp, Larry S.. This note derives the dynamic programming equation (DPE) to a differentiable Markov Perfect equilibrium in a problem with non-constant discounting and general functional forms. We begin with a discrete stage model and take the limit as the length of the stage goes to 0 to obtain the DPE corresponding to the continuous time problem. We characterize the multiplicity of equilibria under non-constant discounting and discuss the relation between a given equilibrium of that model and the unique equilibrium of a related problem with constant discounting. We calculate the bounds of the set of candidate steady states and we Pareto rank the equilibria. Tipo: Working or Discussion Paper Palavras-chave: Hyperbolic discounting; Time consistency; Markov equilibria; Non-uniqueness; Observational equivalence; Pareto efficiency; Research Methods/ Statistical Methods; D83; L50. Ano: 2004 URL: http://purl.umn.edu/25050 Registros recuperados: 2 Primeira ... 1 ... Última

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