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The Allocation Of Surplus By Markets: A Framework For Analysis

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  • NICOLÁS GARRIDO

    (Departamento de Economia, Universidad Catolica del Norte - IDEAR, Chile)

Abstract

The aim of this paper is to present algorithmic specifications of institutions as an alternative to the pervasive gradient institutions used in mainstream economics. A framework to evaluate the performance of the institutions is proposed using instruments from landscape theory. The problem of how a simple market allocates surplus is studied as an example of application of the framework.

Suggested Citation

  • Nicolás Garrido, 2008. "The Allocation Of Surplus By Markets: A Framework For Analysis," International Journal of Modern Physics C (IJMPC), World Scientific Publishing Co. Pte. Ltd., vol. 19(08), pages 1183-1210.
    • Handle: RePEc:wsi:ijmpcx:v:19:y:2008:i:08:n:s012918310801287x
    DOI: 10.1142/S012918310801287X
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    References listed on IDEAS

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