Does dynamic market competition with technological innovation leave no one behind?

Yongsheng Xu, Naoki Yoshihara

In this paper, we examine the performance of the market mechanism by focusing on whether no one, in the "long-run", can be left behind with technological innovation in the economy. We show that the market mechanism with technological innovation unavoidably leaves some individuals behind. We extend this negative result to a broader class of resource allocation mechanisms.

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Year of publication:	2019
Authors:	Xu, Yongsheng ; Yoshihara, Naoki
Publisher:	Amherst : University of Massachusetts Amherst
Subject:	dynamic market competition with technological innovation \| Hicksian Optimism \| the Walrasian allocation rule \| Pareto efficiency \| individual rationality \| Theorie \| Theory \| Innovation \| Pareto-Optimum \| Technischer Fortschritt \| Technological change \| Allokation \| Allocation

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Extent:	1 Online-Ressource (circa 14 Seiten)
Series:	Economics Department working paper series. - Amherst, Mass. : [Verlag nicht ermittelbar], ZDB-ID 2407593-0. - Vol. [2019, 22]
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/227888 [Handle]
Classification:	D30 - Distribution. General ; D51 - Exchange and Production Economies ; D60 - Welfare Economics. General ; O33 - Technological Change: Choices and Consequences; Diffusion Processes ; P10 - Capitalist Systems. General ; P20 - Socialist Systems and Transitional Economies. General ; P40 - Other Economic Systems. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012131691