| 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 |