THE ECONOMICS OF UNCERTAINTY, VII,
Abstract
The paper gives a brief outline of the classical proof that a competitive equilibrium is Pareto optimal. It is then shown that this result does not hold when uncertainty is brought into the model. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 01, 1965
- Accession Number
- AD0613671
Entities
People
- Karl Borch
Organizations
- University of California, Los Angeles