An incentive efficient market for mechanisms in large Akerlof economies
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DOI: 10.1007/s00199-020-01329-2
Abstract: We study ‘Akerlof economies’, that is, economies where goods come in qualities unknown to buyers, and sellers’ quality can be ranked. Cross-subsidies at the constrained efficient allocation arise, even when there are few high-quality types… read more here.
Keywords: market mechanisms; efficient market; akerlof economies; mechanisms large ... See more keywords