The Foundation Of Market Quality Economics
This 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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Volume (Year): 60 (2009)
Issue (Month): 1 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Makoto Yano, 2008. "Competitive fairness and the concept of a fair price under Delaware law on M&A," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(2), pages 175-190.
- Makoto Yano, 2005. "Coexistence of large firms and less efficient small firms under price competition with free entry," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(3), pages 167-188.
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- Miyoshi, Koyo, 2008. "Male-female wage differentials in Japan," Japan and the World Economy, Elsevier, vol. 20(4), pages 479-496, December.
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- BACCHIEGA, Emmanuelle & GABSZEWICZ, Jean J. & TAROLA, Ornella, 2004. "Time-to-market in vertically differentiated industries," CORE Discussion Papers 2004077, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"The Turnpike of Dynamic General Equilibrium Paths and its Insensitivity to Initial Conditions,"
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- Yano, Makoto, 1984. "The turnpike of dynamic general equilibrium paths and its insensitivity to initial conditions," Journal of Mathematical Economics, Elsevier, vol. 13(3), pages 235-254, December.
- Ronald W. Jones, 1965. "The Structure of Simple General Equilibrium Models," Journal of Political Economy, University of Chicago Press, vol. 73, pages 557.
- Makoto Yano, 2006. "A price competition game under free entry," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(2), pages 395-414, October.
- Anthony Creane, 2007. "Note on uncertainty and socially excessive entry," International Journal of Economic Theory, The International Society for Economic Theory, vol. 3(4), pages 329-334.
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