Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights

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dc.creatorBullock, David S.
dc.date2017-04-01T20:05:28Z
dc.date.accessioned2026-07-09T03:27:47Z
dc.descriptionTo address the question, "Should we expect government policy to be efficient?" at its roots, I modify the well-known Arrow-Debreu private ownership economy, allowing property rights to be violable. The result is that equilibria tend to be Pareto inefficient.
dc.identifierdoi:10.22004/ag.econ.19444
dc.identifierhttps://ageconsearch.umn.edu/record/19444/files/sp05bu05.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/19444
dc.identifier.urihttp://hdl.handle.net/123456789/532974
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/19444
dc.titleShould We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights
dc.typeText

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