Lecture

Pareto Efficiency and Social Welfare

In course

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Description

This lecture covers the concept of Pareto efficiency, social welfare functions, and optimization problems in asset pricing. It discusses the conditions for Pareto optimality, the role of social planners, and the implications of complete and incomplete markets on equilibrium allocations. The lecture also explores representative agent models, linear risk tolerance, and the relationship between market equilibriums and Pareto optimal allocations.

Instructor

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Official source

https://mediaspace.epfl.ch/media/0_2ey87zzo

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Ontological neighbourhood

Economics

Macroeconomics: Markets, Topics in macroeconomics

Microeconomics: Financial economics

Theoretical computer science

Programming language theory: High-level programming languages

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