Final answer:
Wallace Oates developed the decentralized theorem in Economics, stating that the efficient provision of public goods can be achieved through decentralization.
Step-by-step explanation:
Wallace Oates developed the decentralization theorem in the field of Economics. The decentralization theorem states that in a competitive market, the efficient provision of public goods can be achieved through the decentralization of decision-making to local authorities or individuals.
For example, if a city wants to provide public parks, the decentralization theorem suggests that giving local governments or community organizations the authority to make decisions about park development and maintenance can lead to more efficient outcomes.
This theorem has significant implications for public policy and the proper allocation of resources in decentralized systems.