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Pareto‐improving price regulation when the asset market is incomplete: An example
Author(s) -
Herings P. J. J.,
Polemarchakis H.
Publication year - 2012
Publication title -
international journal of economic theory
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 11
eISSN - 1742-7363
pISSN - 1742-7355
DOI - 10.1111/j.1742-7363.2012.00182.x
Subject(s) - economics , pareto principle , asset (computer security) , microeconomics , incomplete markets , financial economics , computer science , operations management , computer security
In a robust example of an economy with an incomplete asset market, price regulation, that operates anonymously, on market variables, can be Pareto‐improving.