{"product_id":"decentralization-in-infinite-horizon-economies-2","title":"Decentralization In Infinite Horizon Economies","description":"Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics — can a decentralized economy attain an efficient or optimal allocation of resources when it is allowed to evolve without a predetermined terminal date? The failure of a price-guided competitive system to ensure efficiency\/Pareto optimality with an infinite horizon was exposed by Malinvaud and Samuelson. Subsequent research, reported in this volume, achieved a deeper understanding of the problem, and obtained definitive results that are of interest in a much broader framework.","brand":"World Scientific Publishing Co Pte Ltd","offers":[{"title":"Default Title","offer_id":54255279472984,"sku":"9789814699624","price":97.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9789814699624_83ae3120-97e5-448a-86e5-9e58ae4b6180.jpg?v=1777258830","url":"https:\/\/agendabookshop.com\/products\/decentralization-in-infinite-horizon-economies-2","provider":"Agenda Bookshop","version":"1.0","type":"link"}