Category: Economics

Thoughts on Equity and Allocative Effiency in Economics

My friend here has written a nice article on economics. http://datinker.com/blog/2015/08/04/trade-off-between-equity-and-efficiency/ I would like to share some of my thoughts regarding the subject of "equity and efficiency". It occurs to me that the interpretations of "information" in the two mentioned thought experiments are not necessarily the same. Nevertheless, I agree with her conclusion that perfect […]