Enhance Your Quote Experience
Enjoy ad-free browsing, unlimited collections, and advanced search features with Premium.
" "We look upon economic theory as a sequence of conceptual models that seek to express in simplified form different aspects of an always more complicated reality.
Tjalling Charles Koopmans (August 28, 1910 – February 26, 1985) was a Dutch-American mathematician and economist, the joint winner with Leonid Kantorovich of the 1975 .
Enhance Your Quote Experience
Enjoy ad-free browsing, unlimited collections, and advanced search features with Premium.
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
One can in particular interpret the proposition as a statement conditions under which the simplicity of incentive structure and the economies of information handling characteristic of a competitive market organization can be secured without loss of efficiency of allocation... The price system carries to each producer, resource holder, or consumer a summary of information about the production possibilities, resource availabilities and preferences of all other decision makers. Under the conditions postulated, this summary is all that is needed to keep all decision makers reconciled with a Pareto optimal state once it has been established.
Enhance Your Quote Experience
Enjoy ad-free browsing, unlimited collections, and advanced search features with Premium.