Reference Entry

first-best allocations

John Black, Nigar Hashimzade and Gareth Myles

in A Dictionary of Economics

Third edition

Published in print January 2009 | ISBN: 9780199237043
Published online January 2009 | e-ISBN: 9780191726637
first-best allocations

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The set of allocations that can be achieved when the only constraints upon the economic policy-maker involve technology and resources.

Reference Entry.  88 words. 

Subjects: Economics

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