In this video, I discuss the differences and similarities of the 1st and 2nd welfare theorems. In particular, I discuss with an example why the convexity assumption is necessary.
I'm an award-winning teacher who has taught for leading institution including, LSE, University of Oxford, Sciences Po and Stanford University. If you are interested in private tutorials you can visit:
www.axiomtutor...
Негізгі бет First and second welfare theorem - intuition
Пікірлер: 5