Pareto improving price regulation when the asset market is incomplete

When the asset market is incomplete, competitive equilibria are constrained suboptimal, and there is scope for Pareto improving interventions. Price regulation, which operates anonymously, on market variables, can be such a Pareto improving policy, even when the welfare effects of rationing are taken into account.

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Year of publication:	2001
Authors:	Herings, P. J. J. ; Polemarchakis, H.
Publisher:	Providence, RI : Brown University, Department of Economics
Subject:	Finanzmarkt \| Unvollkommener Markt \| Einzelhandelspreispolitik \| Wohlfahrtstheorie \| Theorie \| incomplete asset market \| fix-price equilibria \| Pareto improvement.

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Series:	Working Paper ; 2001-31
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	339809221 [GVK] hdl:10419/80204 [Handle]
Classification:	D45 - Rationing; Licensing ; D52 - Incomplete Markets ; D60 - Welfare Economics. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10010318973