Tjalling Koopmans Quote

Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must somehow themselves be the result of the same responses.


Tjalling C. Koopmans, "Is the Theory of Competitive Equilibrium With It?," The American Economic Review, Vol. 64, No. 2, May 1974; p. 327


Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must...

Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must...

Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must...

Optimizing responses of economic agents are simultaneously feasible only if the proper prices are already known to them. But these prices must...