Borch’s theorem, equal margins, and efficient allocation

Sjur Didrik Flåm

Insurance: Mathematics and Economics, 2016, vol. 70, issue C, 162-168

Abstract: The economic concept of margin guides or justifies the sharing of risks and resources. Broadly, by Borch’s theorem, competing claimants, ends or users ought see equal margins along any efficient allocation.

Keywords: Borch’s theorem; Efficient allocation; Generalized differentials; Core; Competitive equilibrium; Insurance with deductibles (search for similar items in EconPapers)
JEL-codes: C62 C71 D33 D61 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:insuma:v:70:y:2016:i:c:p:162-168

DOI: 10.1016/j.insmatheco.2016.06.010

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