Citanna, A.; Polemarchakis, H.M.; Tirelli, M. - Center for Operations Research and Econometrics (CORE), … - 2001
When the asset market is incomplete,there typically exist taxes on trades in assets and a redistribution of revenue in … the asset market that are Pareto improving. The policy is anonymous,it economizes on complexity,and it re- sults in ex … traders,it does not require that .nancial markets be shut down,and it does not modify the asset market structure.As such …