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      • Dept. of Economics - Ph.D. / Sc.D.
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      •   BUIR Home
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      • Theses - Department of Economics
      • Dept. of Economics - Ph.D. / Sc.D.
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      Markets as institutions

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      Author(s)
      Başçı, Erdem
      Advisor
      Koray, Semih
      Date
      1995
      Publisher
      Bilkent University
      Language
      English
      Type
      Thesis
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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
      Societies
      Institutions
      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/11693/18461
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      • Dept. of Economics - Ph.D. / Sc.D. 44
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