Inefficiency of smooth market mechanisms

DOI10.1016/0304-4068(90)90004-SMaRDI QIDQ751458zbMATH OpenOpenAlexWikidataFDO

Authors D. Kharzeev

Publication date 1990

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

Full work available at URL https://doi.org/10.1016/0304-4068(90)90004-s

zbMATH Keywords

market mechanismNash equilibria

Mathematics Subject Classification ID

General equilibrium theory (91B50)

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Cites work

• A theory of money and financial institutions. 28. The noncooperative equilibria of a closed trading economy with market supply and bidding strategles
• Approximate Efficiency of Non-Walrasian Nash Equilibria
• Efficiency properties of strategic market games: An axiomatic approach
• scientific article; zbMATH DE number 3273748 (Why is no real title available?)
• Nash equilibria of market games: Finiteness and inefficiency
• On the generic inefficiency of differentiable market games
• Outcome Functions Yielding Walrasian and Lindahl Allocations at Nash Equilibrium Points
• Values of Non-Atomic Games

Cited in

(24)

• On the generic inefficiency of differentiable market games
• The representation problem and the efficiency of the price mechanism
• Liquid markets and competition
• The market game: Existence and structure of equilibrium
• Repeated trade and the velocity of money
• Noncooperative general exchange with a continuum of traders: Two models
• Smart market mechanisms: From practice to theory
• General equilibrium concepts under imperfect competition: A Cournotian approach
• Strategic market games: an introduction.
• Retrading in market games.
• A strategic market game with complete markets
• Consistent collusion-proofness and correlation in exchange economies.
• Inefficient ownership and resale opportunities
• Efficiency in trading markets with multi-dimensional signals
• Existence and optimality of Cournot-Nash equilibria in a bilateral oligopoly with atoms and an atomless part
• Efficiency Properties of Large Dynamic Markets
• Cooperation and self-interest: Pareto-inefficiency of Nash equilibria in finite random games
• The Optimality of a Simple Market Mechanism
• Buying and selling in strategic market games
• Trade fragmentation and coordination in strategic market games
• On the efficiency of market equilibrium in production economies.
• Efficiency in decentralized oligopolistic markets
• Information aggregation in a large multi-stage market game
• Functional rational expectations equilibria in market games

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