Asymmetry of Information in Public Finance

  • Rosella Levaggi
Chapter
Part of the Current Issues in Economics book series (CIE)

Abstract

A large and interesting class of problems in economics involves delegated choices in which one individual or organisation has the responsibility for taking decisions in the interest of one or more others. A usual claim in economics is that an optimum exists because each agent realises that he could not do better for himself than by accepting the prevailing settings and maximising his objective function using those constraints.

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Copyright information

© Rosella Levaggi 1992

Authors and Affiliations

  • Rosella Levaggi

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