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

Egmont Kakarot-Handtke ()

MPRA Paper from University Library of Munich, Germany

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.

Keywords: price system; information processing; distribution (search for similar items in EconPapers)
JEL-codes: B59 D30 (search for similar items in EconPapers)
Date: 2014-01-20
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:53056

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