Acemoglu, Daron; Golosov, Mikhail; Tsyvinski, Aleh - In: Journal of Monetary Economics 55 (2008) 1, pp. 159-189
We provide a simple framework for comparing market allocations with government-regulated allocations. Governments can collect information about individuals' types and enforce transfers across individuals. Markets (without significant government intervention) have to rely on transactions that are...