Advanced Search
MyIDEAS: Login

Welfare Losses in Disequilibrium Markets--An Empirical Illustration

Contents:

Author Info

  • Brannlund, Runar
Registered author(s):

    Abstract

    Measures of partial welfare losses are derived for markets where the price may fail to equate demand and supply. The welfare loss is measured as the difference between the sum of consumer surplus and producer surplus when going from a disequilibrium regime to an equilibrium regime. A complication, and special feature, of the analysis is an assumption that the price is determined ex ante by the intersection of expected supply and demand. Ex post, however, both demand and supply are exposed to stochastic shocks. This means that since the price is fixed ex ante, the expected loss depends not only on deterministic demand supply shifts, but also on the distribution of the stochastic elements. The Swedish timber market is used as an empirical illustration. Copyright 1993 by The editors of the Scandinavian Journal of Economics.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

    Volume (Year): 95 (1993)
    Issue (Month): 2 ()
    Pages: 209-25

    as in new window
    Handle: RePEc:bla:scandj:v:95:y:1993:i:2:p:209-25

    Contact details of provider:
    Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

    Order Information:
    Web: http://www.blackwellpublishing.com/subs.asp?ref=0347-0520

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:bla:scandj:v:95:y:1993:i:2:p:209-25. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.