Does Dynamic Market Competition with Technological Innovation Leave No One Behind?

Authors

Yongsheng Xu, epartment of Economics, Andrew Young School of Policy Studies, Georgia State University, Atlanta.Follow
Naoki Yoshihara, Department of Economics, University of Massachusetts, AmherstFollow

Working Paper Number

2019-22

Publication Date

2019

Abstract

In this paper, we examine the performance of the market mechanism by focusing on whether no one, in the ‘long-run’, can be left behind with technological innovation in the economy. We show that the market mechanism with technological innovation unavoidably leaves some individuals behind. We extend this negative result to a broader class of resource allocation mechanisms.

DOI

https://doi.org/10.7275/15848057

License

UMass Amherst Open Access Policy

Recommended Citation

Xu, Yongsheng and Yoshihara, Naoki, "Does Dynamic Market Competition with Technological Innovation Leave No One Behind?" (2019). UMass Amherst Economics Working Papers. 280.
https://doi.org/10.7275/15848057