Constrained inefficiency of competitive entrepreneurship

DOI10.1016/J.JMATECO.2020.03.005MaRDI QIDQ2178591zbMATH OpenOpenAlexFDO

Authors Sakai Ando, Misaki Matsumura

Publication date 11 May 2020

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2020.03.005

zbMATH Keywords

incomplete marketsconstrained efficiencycompetitive entrepreneurshipoccupation choice

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Labor markets (91B39)

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Cites work

• A theory of liquidity and regulation of financial intermediation
• Bank Runs, Deposit Insurance, and Liquidity
• Constrained efficiency in the neoclassical growth model with uninsurable idiosyncratic shocks
• Generic inefficiency of stock market equilibrium when markets are incomplete
• Human Capital Risk and Economic Growth
• Impatience, Information and Risk Taking in a General Equilibrium Model of Occupational Choice
• Pecuniary externalities in economies with financial frictions

Cited in

(2)

• Are inefficient entrepreneurs driven out of the market?
• Risky human capital accumulation with endogenous skill premium

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