Intertemporal equity and efficient allocation of resources.
type: Item
instance of: scholarly article
title: Intertemporal equity and efficient allocation of resources.
zbMATH Open document ID: 1038.91060
author: Tapan Mitra
published in: Journal of Economic Theory
publication date: 2003-04-02T00:00:00Z
full work available at URL: LondonConfRevised.pdf
review text: In this paper is shown that competitive-paths which are efficient satisfy a terminal cost minimization condition in the sense of Malinvaud. Using this result, competitive paths which are equitable and efficient are shown to satisfy Hartwick's investment rule, which states that the value of net investment is zero at each date. The author's result indicates that Hartwick's rule can help to signal inefficiency of competitive equitable paths.
Mathematics Subject Classification ID: 91B32
Mathematics Subject Classification ID: 91B62
zbMATH DE Number: 1891543
zbMATH Keywords: intertemporal equity
zbMATH Keywords: efficiency
zbMATH Keywords: Hartwick's rule
zbMATH Keywords: terminal cost minimization.
reviewed by: Stefan Mititelu
MaRDI profile type: Publication
OpenAlex ID: W2072006772
cites work: Maximin Paths of Heterogeneous Capital Accumulation and the Instability of Paradoxical Steady States
cites work: The structure and stability of competitive dynamical systems
cites work: Q4060659
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cites work: Intergenerational Equity and Efficient Allocation of Exhaustible Resources
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cites work: Infinite Horizon Programs
cites work: Capital Accumulation and Efficient Allocation of Resources
cites work: Q4060660
cites work: A Support Price Theorem for the Continuous Time Model of Capital Accumulation
cites work: Characterizing sustainability: The converse of Hartwick's rule
DOI: 10.1006/JETH.2001.2964
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description: scientific article; zbMATH DE number 1891543