The Cass criterion, also known as the Malinvaud–Cass criterion, is a central result in theory of overlapping generations models in economics. It is named after David Cass. A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinitely lived individuals is that the First Welfare Theorem might not hold—that is, competitive equilibria may be not be Pareto optimal. If represents the vector of Arrow–Debreu commodity prices prevailing in period and if then a competitive equilibrium allocation is inefficient.
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| - Cass criterion (en)
- Criterio de Cass (es)
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| - The Cass criterion, also known as the Malinvaud–Cass criterion, is a central result in theory of overlapping generations models in economics. It is named after David Cass. A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinitely lived individuals is that the First Welfare Theorem might not hold—that is, competitive equilibria may be not be Pareto optimal. If represents the vector of Arrow–Debreu commodity prices prevailing in period and if then a competitive equilibrium allocation is inefficient. (en)
- El Criterio de Cass es un resultado central en la teoría de modelos de generaciones traslapadas en economía. Debe su nombre a David Cass. Una característica importante que hace que los modelos de generaciones traslapadas en economía se distingan del modelo estándar con un número finito de individuos es que el primer teorema de la economía del bienestar no se podría sostener; es decir, que el puede no ser el óptimo de Pareto. Si representa el vector de los precios del bien Arrow-Debreu vigentes en un período ; entonces, una asignación del es ineficiente si y solo si (es)
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| - The Cass criterion, also known as the Malinvaud–Cass criterion, is a central result in theory of overlapping generations models in economics. It is named after David Cass. A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinitely lived individuals is that the First Welfare Theorem might not hold—that is, competitive equilibria may be not be Pareto optimal. If represents the vector of Arrow–Debreu commodity prices prevailing in period and if then a competitive equilibrium allocation is inefficient. (en)
- El Criterio de Cass es un resultado central en la teoría de modelos de generaciones traslapadas en economía. Debe su nombre a David Cass. Una característica importante que hace que los modelos de generaciones traslapadas en economía se distingan del modelo estándar con un número finito de individuos es que el primer teorema de la economía del bienestar no se podría sostener; es decir, que el puede no ser el óptimo de Pareto. Si representa el vector de los precios del bien Arrow-Debreu vigentes en un período ; entonces, una asignación del es ineficiente si y solo si (es)
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