Pareto-Efficiency, Hayek’s Marvel, and the Invisible Executor

This non-technical contribution to the RWER-Blog deals with the interrelations of market clearing, efficient information processing through the price system, and distribution. The point of entry is a transparent example of Pareto-efficiency taken from the popular book How Markets Fail.

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Year of publication:	2014-01-20
Authors:	Kakarot-Handtke, Egmont
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	price system \| information processing \| distribution

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	B59 - Current Heterodox Approaches. Other ; D30 - Distribution. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011260221