Paths to the frontier
By: Acharya, Avidit and Ortner, Juan
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Material type: 
BookPublisher: American Economic Journal: Microeconomics Description: 14(1), Feb, 2022: p.39-69.
In:
American Economic Journal: MicroeconomicsSummary: We construct a model of collective search in which players gradually approach the Pareto frontier. The players have imperfect control over which improvements to the status quo will be considered. Inefficiency takes place due to the difficulty in finding improvements acceptable to both parties. The process is path dependent, with early agreements determining long-run outcomes. It may also be cyclical, as players alternate between being more and less accommodating. – Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 14(1), Feb, 2022: p.39-69 | Available | AR126948 |
We construct a model of collective search in which players gradually approach the Pareto frontier. The players have imperfect control over which improvements to the status quo will be considered. Inefficiency takes place due to the difficulty in finding improvements acceptable to both parties. The process is path dependent, with early agreements determining long-run outcomes. It may also be cyclical, as players alternate between being more and less accommodating. – Reproduced
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