[FAM-news] IHS Public Lecture: Herakles Polemarchakis: Pareto Improving Taxes

Andreas Schamanek schamane@fam.tuwien.ac.at
Fri, 25 Jun 2004 11:41:09 +0200 (CEST)

---------- Forwarded message ----------
From: Walter Schachermayer <wschach@fam.tuwien.ac.at>
---------- Forwarded message ----------
Date: Thu, 24 Jun 2004 16:09:21 +0200
From: Beatrix Pawelczak <pawelcza@ihs.ac.at>
To: NOEG_VT:  ;
Subject: Invitation to IHS Public Lecture


Monday, 28 June, 2004
Institut für Höhere Studien
1060 Wien, Stumpergasse 56

4:00 p.m., HS II

  Herakles Polemarchakis
  Brown University, Providence

Pareto Improving Taxes


In economies with externalities, competitive equilibria are
constrained suboptimal: commodity taxes lead to a Pareto improvement
after prices adjust and markets clear. The argument extends to
economies with strategic interactions, incomplete asset markets or
asymmetric information. The constrained suboptimality of competitive
allocations provides foundations for a theory of economic policy in
market economies.
With: J. D. Geanakoplos, Yale University

Bakk. phil. Beatrix Pawelczak
Institute for Advanced Studies and Scientific Research
Stumpergasse 56, 1060 Wien, Austria
Tel:      +43-(01)-59991-145
Fax:     +43-(01)-59991-163
e-mail: pawelcza@ihs.ac.at
www:   http://www.ihs.ac.at