The Foundation Of Market Quality Economics
AbstractThis study is based on my observation that high quality markets are indispensable for the healthy growth of a modern economy. Many problems surrounding markets are attributable to the lack of high quality markets. An industrial revolution creates extremely vibrant but unhealthy markets. This study introduces a concept of fairness in dealing and pricing (competitive fairness), which differs from efficiency, and define market quality as a measure for the efficiency of allocation and the fairness of dealing and pricing. This study shows that competitive fairness is achieved by several market mechanisms that I constructed in my previous work.
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Bibliographic InfoArticle provided by Japanese Economic Association in its journal Japanese Economic Review.
Volume (Year): 60 (2009)
Issue (Month): 1 ()
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Other versions of this item:
- Makoto Yano, 2008. "The Foundation of Market Quality Economics," Keio/Kyoto Joint Global COE Discussion Paper Series 2008-001, Keio/Kyoto Joint Global COE Program.
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