Arbeitspapier
New Goods
The standard practice in economic theory is to assume that all the relevant variables (e.g., the space of all the goods of potential economic value) and all the relevant constraints are known to the policymaker or to the designer of an economic system. This often unstated assumption (or the belief implictly embodied in it) inadvertently creates an illusion about our ability to design an economic system and control the process of resource allocation. In this paper, a series of examples is developed to illustrate that this modelling approach has the danger of misdirecting our attention when evaluating alternative forms of economic system. Some implications for reforms in the former socialist economies are also drawn.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper ; No. 1124
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Matsuyama, Kiminori
- Ereignis
-
Veröffentlichung
- (wer)
-
Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
- (wo)
-
Evanston, IL
- (wann)
-
1995
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Matsuyama, Kiminori
- Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
Entstanden
- 1995
Ähnliche Objekte (12)
Valuing a new good
Debt Relief and Good Governance: New Evidence
A nonparametric method for valuing new goods
Good governance and good aid allocation
Learning-by-Doing and the Introduction of New Goods
Is Finance Good for Growth? New Evidence from China
Shrinking Goods
Good enough
Do Migrants Get Good Jobs? : New Migrant Settlement in Australia
Is Capital Mobility Good for Public Good Provision?
Good peers, good apples? Peer effects in portfolio quality
Pricing Damaged Goods
Valuing a new good
Debt Relief and Good Governance: New Evidence
A nonparametric method for valuing new goods
Good governance and good aid allocation
Learning-by-Doing and the Introduction of New Goods
Is Finance Good for Growth? New Evidence from China
Shrinking Goods
Good enough
Do Migrants Get Good Jobs? : New Migrant Settlement in Australia
Is Capital Mobility Good for Public Good Provision?
Good peers, good apples? Peer effects in portfolio quality
Pricing Damaged Goods
Valuing a new good
Debt Relief and Good Governance: New Evidence
A nonparametric method for valuing new goods
Good governance and good aid allocation
Learning-by-Doing and the Introduction of New Goods
Is Finance Good for Growth? New Evidence from China
Shrinking Goods
Good enough
Do Migrants Get Good Jobs? : New Migrant Settlement in Australia
Is Capital Mobility Good for Public Good Provision?
Good peers, good apples? Peer effects in portfolio quality