theory, welfare, populationThe usual notion of economic efficieny, Pareto efficiency, requires the group of concerned agents to be unchanged. As such, one can not apply it to, say, models of optimal growth with endogenous population growth. What are notions of efficiency for problems with a variable population? Are there reasonably popular applications for these notions?
There were no answers to this question.
All content is licensed under CC BY-SA 3.0.