General equilibrium in markets for lemons

• Type: Article in International Scientific Journal
• Date: 2012

Authors

João Correia-da-Silva (Author) FEP

Journal

Title: Journal of Mathematical Economics

Vol. 48 No. 3

Pages: 187-195

ISSN: 0304-4068

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 6 Citations

ISI Web of Science

Scopus - 5 Citations

Econlit

Scientific classification

FOS: Social sciences > Economics and Business

Other information

Authenticus ID: P-002-ABJ

DOI: 10.1016/j.jmateco.2012.04.002

Abstract (EN): This paper studies exchange economies in which agents have differential information about the goods that the other agents bring to the market. To study such a setting, it is useful to distinguish goods not only by their physical characteristics, but also by the agent that brings them to the market. Equilibrium is shown to exist, with agents receiving the cheapest bundle among those that they cannot distinguish from the truthful delivery. An example is presented as an illustration.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 9