Competitive Equilibrium and Efficiency: What Role for Policy Maker?
5 Pages Posted: 17 Jan 2012
Date Written: January 17, 2012
Analyzing the two theorems of welfare economics, we try to identify possible areas of State intervention to compensate market imperfections.
Keywords: competive equilibrium, Pareto-efficiency, welfare economics
JEL Classification: A13, D00, D41, D50, D60
Suggested Citation: Suggested Citation