EconStor >
University of the Philippines >
University of the Philippines School of Economics (UPSE) >
UPSE Discussion Papers, University of the Philippines >

Please use this identifier to cite or link to this item:
Title:Gatekeeper versus auctioneer: A non-tatonnement result PDF Logo
Authors:de Dios, Emmanuel S.
Ong, Grace T.
Issue Date:2010
Series/Report no.:Discussion paper // School of Economics, University of the Philippines 2010,02
Abstract:A non-tatonnement process is described using the simplest demandand-supply model, involving the following: uniformly distributed agents; random matching of buyers and sellers; and a universal permission to engage in mutually acceptable trade at nonequilibrium prices. A sufficient condition is then stated where expected welfare gains are paradoxically greater when the number of market agents is restricted, compared to when all traders are allowed to participate.
Document Type:Working Paper
Appears in Collections:UPSE Discussion Papers, University of the Philippines

Files in This Item:
File Description SizeFormat
631369015.pdf267.32 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.