No |
SDES-2019-11 |
Title |
Does dynamic market competition with technological innovation leave no one behind? |
Author |
Youngsheng Xu and Naoki Yoshihara |
Abstract |
In this paper, we examine the performance of the market mechanismby focusing on whether no one, in the `long-run', can be left behind withtechnological innovation in the economy. We show that the market mechanism with technological innovation unavoidably leaves some individuals behind. We extend this negative result to a broader class of resource allocation mechanisms. |
Revised version published in |
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