DECENTRALIZATION AND INCOME DISTRIBUTION IN SOCIALIST ECONOMIES

ELISHA A. PAZNER; DAVID SCHMEIDLER

doi:10.1111/j.1465-7295.1978.tb00286.x

DECENTRALIZATION AND INCOME DISTRIBUTION IN SOCIALIST ECONOMIES

ELISHA A. PAZNER^*, DAVID SCHMEIDLER

^*Corresponding author for this work

School of Mathematical Sciences

Research output: Contribution to journal › Article › peer-review

Abstract

Can an informationally decentralized mechanism be designed so as to lead society to a predetermined distribution of income and with the resulting allocation being Pareto optimal? In the present paper this question is answered affirmatively by presenting a decentralized mechanism capable of achieving these objectives. As a by‐product of the analysis the redistributive possibilities arising from the creation of accounting “money” are also brought out.

Original language	English
Pages (from-to)	257-264
Number of pages	8
Journal	Economic Inquiry
Volume	16
Issue number	2
DOIs	https://doi.org/10.1111/j.1465-7295.1978.tb00286.x
State	Published - Apr 1978

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abstract = "Can an informationally decentralized mechanism be designed so as to lead society to a predetermined distribution of income and with the resulting allocation being Pareto optimal? In the present paper this question is answered affirmatively by presenting a decentralized mechanism capable of achieving these objectives. As a by‐product of the analysis the redistributive possibilities arising from the creation of accounting “money” are also brought out.",

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DECENTRALIZATION AND INCOME DISTRIBUTION IN SOCIALIST ECONOMIES

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