Too much waste, not enough rationing: the failure of stochastic, competitive markets
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- de Meza, David & Reito, Francesco, 2020. "Too much waste, not enough rationing: The failure of stochastic, competitive markets," Journal of Economic Theory, Elsevier, vol. 188(C).
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Cited by:
- de Meza, David & Reito, Francesco, 2021.
"Macro shocks cause equilibrium price dispersion,"
Economics Letters, Elsevier, vol. 208(C).
- De Meza, David & Reito, Francesco, 2021. "Macro shocks cause equilibrium price dispersion," LSE Research Online Documents on Economics 111897, London School of Economics and Political Science, LSE Library.
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More about this item
Keywords
stochastic demand; rationing; waste; efficiency;All these keywords.
JEL classification:
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
NEP fields
This paper has been announced in the following NEP Reports:- NEP-COM-2021-11-15 (Industrial Competition)
- NEP-CWA-2021-11-15 (Central and Western Asia)
- NEP-MIC-2021-11-15 (Microeconomics)
- NEP-ORE-2021-11-15 (Operations Research)
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