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

Author

Listed:
  • Kakarot-Handtke, Egmont

Abstract

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.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2014. "Pareto-Efficiency, Hayek’s Marvel, and the Invisible Executor," MPRA Paper 53056, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:53056
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    File URL: https://mpra.ub.uni-muenchen.de/53056/1/MPRA_paper_53056.pdf
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    More about this item

    Keywords

    price system; information processing; distribution;

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • D30 - Microeconomics - - Distribution - - - General

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