Markets as institutions
Author(s)
Advisor
Koray, SemihDate
1995Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
180
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Abstract
This dissertation investigates resource allocation via institutions. A unifying framework for
studying various kinds of institutional structures is provided. After the introductory Part 1,
Part 2 presents the general model (Chapter 1) and studies existence of equilibria (Chapter 2).
Part 3 provides applications to general equilibrium models under complete markets (Chapter 3),
public goods and Lindahl prices (Chapter 4), generalized price systems and sales taxes (Chapter
5), lemons type quality problems (Chapter 6). adverse selection and money (Chapter 7),
and a model with Markov technologies and freedom effects on utilities (Chapter 8). welfare
implications of most applications are investigated. Chapter 9 discusses further applications and
possible future research topics.
Keywords
SocietiesInstitutions
Economic systems
Social systems
Abstract economies
Abstract economic systems
Private ownership economies
Public goods economies
Markets for lemons
Adverse selection
Price system
Generalized price system
Semicentralized resource equilibrium
Non-cooperative equilibrium
Social equilibrium
Competitive (Wcdrasian) equilibrium
Sales tax equilibrium
Sustainable Walrasian equilibrium
Equilibrium existence
Financial structure
Neutrality of money
Second best
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http://hdl.handle.net/11693/18461Collections
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