Before revision: We propose a market solution to the problem of resource allocation subject to constraints , such as considerations of diversity or geographical distribution . Constraints give rise to pecuniary externalities, which are internalized via prices.
After revision: We propose a market solution to the problem of resource allocation subject to constraints . Our treatment of constraints is general: including bihierarchical constraints due to considerations of diversity or geographical distribution . Constraints give rise to pecuniary externalities, which are internalized via prices.