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 ()
Pages: 1-32
| Handle: | RePEc:bla:jecrev:v:60:y:2009:i:1:p:1-32 |
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References listed on IDEAS
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