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- W3148506870 abstract "This paper qualifies Weil [1989]'s according to which dynamic efficiency may fail when agents are infinitely-lived, but disconnected from previous ones. It is shown that finite horizons matter in the following sense: if dynamic inefficiency results when the agents have infinite horizons, then there exists a uniquelifetime expectancy aboce (under) which there is a dynamic inefficiency (efficiency). Expressed differently, horizons have to be sufficiently long for over-accumulation to arise." @default.
- W3148506870 created "2021-04-13" @default.
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- W3148506870 date "1999-01-01" @default.
- W3148506870 modified "2023-09-28" @default.
- W3148506870 title "Dynamic Efficiency: Finite Horizons Matter" @default.
- W3148506870 hasPublicationYear "1999" @default.
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