haku: @indexterm decentralisation / yhteensä: 269
viite: 68 / 269
| Tekijä: | Hyde, C. E. |
| Otsikko: | Multiple equilibria in bargaining models of decentralized trade |
| Lehti: | Economic Theory
1997 : FEB, VOL. 10:2, p. 283-307 |
| Asiasana: | BARGAINING MODELS TRADE DECENTRALISATION MARKETS |
| Kieli: | eng |
| Tiivistelmä: | This paper studies factors affecting market formation and size. The question - how much participation can be expected by different types of agents in a given market and what are the welfare implications - is becoming increasingly relevant as regulators become interested in market mechanisms. An implication of this analysis is that even in simple models of market interaction, welfare analysis of market oriented policy reforms, as seen in environmental regulation and transition economies, can be complicted by the existence of multiple equilibria. It may be difficult to predict likely market outcomes, unless more restrictive equilibrium concepts can be successfully applied. |
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