haku: @indexterm EQUILIBRIUM THEORY / yhteensä: 340
viite: 60 / 340
| Tekijä: | Kemp, M. Sinn, H-W. |
| Otsikko: | A simple model of privately profitable but socially useless speculation |
| Lehti: | Japanese Economic Review
2000 : MAR, VOL. 51:1, p. 84-94 |
| Asiasana: | Speculation Equilibrium theory Welfare |
| Kieli: | eng |
| Tiivistelmä: | The paper presents a general equilibrium model of a pure exchange economy with stochastic endowments, in which speculation in the forward market is profitable and stabilizes prices but is useless from a wefare point of view. |
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