Abstract
A long standing result from classical economics is geared to the establishment of the thesis that a market economy, through competitive equilibrium, ensures the most efficient allocation of resources1 (Debreu 1959) judged by the Pareto optimality criterion (Pareto 1971) that no one can be made better off without making some one worse off.
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© 1998 Physica-Verlag Heidelberg
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Islam, S.M.N. (1998). Introduction. In: Mathematical Economics of Multi-Level Optimisation. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-49949-4_1
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DOI: https://doi.org/10.1007/978-3-642-49949-4_1
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-1050-9
Online ISBN: 978-3-642-49949-4
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