Article ID Journal Published Year Pages File Type
984387 Research in Economics 2012 6 Pages PDF
Abstract
► Comparative-advantage-induced full specialization may be sub-optimal in a multi-period setting. ► The centralized and the decentralized optimal level of specialization are different in a multi-period setting. ► The decentralized optimal level of specialization is inefficient and characterized by overspecialization.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Uncertainty and the optimal level of specialization
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