The welfare costs of informationally efficient prices

DOI10.1016/J.GEB.2021.11.014zbMATH Open1483.91088OpenAlexW3214848549MaRDI QIDQ2078043FDOQ2078043

Manuel Mueller-Frank, Moran Koren

Publication date: 25 February 2022

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.geb.2021.11.014

zbMATH Keywords

information aggregationsocial learningwelfareherdingallocational efficiencydynamic marketsefficient pricesdynamic pricesasymptotic learningtotal surplus

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Social learning (91D15)

Cites Work

• Pathological Outcomes of Observational Learning
• Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
• Monopoly pricing in the binary herding model
• Social Learning Equilibria

Cited In (10)

• INFORMATION AND PRICE DISPERSION: THEORY AND EVIDENCE
• The value of information for price dependent demand
• The implications of pricing on social learning
• Market Selection and the Information Content of Prices
• The pricing effects of ambiguous private information
• Efficiency of antiquarian bookshops in informationally complete markets
• Title not available (Why is that?)
• Information and the divergence between willingness to accept and willingness to pay
• Eliciting demand information through cheap talk: an argument in favor of a ban on price discrimination
• Information: price and impact on general welfare and optimal investment. an anticipative stochastic differential game model

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