Questions tagged [resource-allocation]

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1answer
80 views

Applications of Optimal Transport in Economics

The 1975 Nobel Prize winner in Economics was Kantorovich who reformulated the optimal transportation theory of Monge and applied it to optimal resource allocation. The Wasserstein distance is central ...
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1answer
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The ability of markets and prices to direct resources to higher valued uses: Is this a short run or a long run attribute?

I came across the following quote in a lecture: "In economics, we often talk about the power of markets and prices to direct resources to higher valued uses." - Mike Munger Is this ability ...
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1answer
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What is the latest thinking on the economic calculation problem? [closed]

Eric Posner and Glen Weyl write in the epilogue of Radical Markets (2018) that they “remain confident that for at least a few generations markets – Radical Markets, that is – will remain the best ...
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1answer
43 views

What is the distributional impact of monopoly pricing on consumers?

Hi there, In the example above, a monopolist sets the price for ice-creams at Pm. The instructor then states that the rectangle B is transferred to the monopolist. What is meant by the rectangle ...
1
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1answer
51 views

Is there still allocative efficiency when a subsidy is placed on a good?

An answer schedule for a practice exam I am doing states that when a subsidy is placed on a a good by the government, there is a loss of allocative efficiency. I have also learnt from this video that ...
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1answer
52 views

Is it detrimental if self-interest is not acknowledged in resource allocation situations?

Please note: I am doing a literature survey/review, and I would like references to published work. I contend that if we are dealing with a resource allocation mechanism that allocates scarce ...