On the Paradox of the Efficient Price System in a Completely Centralized Economy and in a Capitalist Individual Ownership Economy.

Martin Shubik

Expert InsightsPublished 1971

The crucial role of the number of competitors in an economy is used to show the difference between a centralized price system and a free enterprise or competitive price system. 10 pp.

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1971
  • Pages: 10
  • Document Number: P-4689

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Shubik, Martin, On the Paradox of the Efficient Price System in a Completely Centralized Economy and in a Capitalist Individual Ownership Economy. Santa Monica, CA: RAND Corporation, 1971. https://www.rand.org/pubs/papers/P4689.html.
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