Decentralized Markets and Endogenous Institutions
This paper is concerned with decentralized models of market equilibrium in which the primary interest lies in the nature of the institutions that govern trade. There are two separate branches in this literature. In the first, the institutions that govern trade are taken to be given exogenously. The primary motivation for models in this class is essentially the study of comparative institutions. In particular the papers are interested in whether there are specific institutions that will generate Walrasian prices and allocations approximately when transactions costs are small. In the second branch of the literature, the institutions that govern trade themselves are made endogenous. These models characterize the nature of these endogenously generated institutions and examine their efficiency in environments where transactions costs are small.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 28 (1995)
Issue (Month): 2 (May)
|Contact details of provider:|| Postal: |
Web page: http://economics.ca/cje/
More information through EDIRC
|Order Information:|| Web: http://economics.ca/en/membership.php Email: |
When requesting a correction, please mention this item's handle: RePEc:cje:issued:v:28:y:1995:i:2:p:227-60. 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: (Prof. Werner Antweiler)
If references are entirely missing, you can add them using this form.