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Microeconomics principles and analysis phần 5

rm hữu ích có thể được chia thành hai subproblems: đó là giảm thiểu chi phí đầu vào cho sản lượng và của . nding sản lượng ủng hộ . t-tối đa hóa, cho rằng sự kết hợp đầu vào đã được lựa chọn tối ưu cho mỗi đầu ra | 242 CHAPTER 9. WELFARE For proof of this see Appendix C. So it appears that under certain circumstances we can pick the Pareto-efficient allocation that we would like to see and then arrange that the economy is automatically moved to this allocation by the process of competition - the competitive equilibrium supports the allocation. But a few words of caution are appropriate here. First in order to manipulate the economy in this way we need to have the right property distribution d as a starting point. But how do we arrange for this distribution in the first place If history has thrown up some other property distribution d then perhaps it is possible to arrange transfers of entitlements of property from one group of households to another before production and trade takes place. These transfers are not based on the activities or choices of any of the agents in the economy - in the jargon they are lump-sum transfers - and the political and administrative difficulties associated with them should not be taken lightly more of this in chapter 13 page 461 . A principal difficulty is that of identifying who is entitled to receive a transfer and who should be required to provide the resources. Some resource endowments are intrinsically non-observable 10 some are intrinsically non transferable.11 Second the conditions in Theorem 9.5 are fairly stringent. Reasonably we could ask what guidance is available on efficiency grounds once we try to accommodate real-world problems and difficulties. These difficulties will involve either departures from the ideals of perfect competition or relaxation of some of the assumptions that underpin the theorem. This issues are addressed in section 9.3.2. Third the discussion of efficiency has been conducted in a world of perfect certainty. There are important issues raised by the model of uncertainty that we developed in chapter 8. These are handled in section 9.3.5. 9.3.2 Departures from efficiency The pair of theorems 9.4 and 9.5 are .