Efficient, Pareto-improving processes
AbstractWe give two optimization programs for determining whether Pareto improving local changes are possible. When they are, the programs compute them. Any procedure generating efficient and Pareto improving changes can be replicated by these programs. The two programs are dual to each other. We apply the programs to Pareto improving exchange processes and to Pareto-improving tax-tariff reforms.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 46 (2010)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/locate/jmateco
Pareto improvement Duality Exchange process Piecemeal tax reform;
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