Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125725836> ?p ?o ?g. }
Showing items 1 to 75 of
75
with 100 items per page.
- W3125725836 abstract "There is a continuum of agents, each of whom trades a divisible asset via demand function competition. Individual valuations are determined by multiple idiosyncratic and common shocks, regarding which the agent observes multi-dimensional signals. The only assumptions are that the signals are normally and symmetrically distributed. We introduce two measures to quantify the distance between an outcome of the demand function competition game and the first-best outcome: the allocative distortion and the price distortion. We say that an equilibrium is “price-quantity efficient” if no outcome of the demand function competition game generates lower allocative and price distortions. We give three results about this economy. First, an equilibrium exists. Second, we give “lax” sufficient conditions (that is, an agent learns about different payoff shocks from different signals) so that every Nash equilibrium is price-quantity efficient. Third, every price-quantity efficient outcome can be implemented by setting an appropriate capital gains tax; because this tax reduces agents’ incentives to speculate on the asset’s price, it decreases the allocative distortion but increases the price distortion." @default.
- W3125725836 created "2021-02-01" @default.
- W3125725836 creator A5021747791 @default.
- W3125725836 date "2018-01-01" @default.
- W3125725836 modified "2023-09-27" @default.
- W3125725836 title "Prices and Allocations in a Trading Market with Multi-Dimensional Signals" @default.
- W3125725836 doi "https://doi.org/10.2139/ssrn.3213628" @default.
- W3125725836 hasPublicationYear "2018" @default.
- W3125725836 type Work @default.
- W3125725836 sameAs 3125725836 @default.
- W3125725836 citedByCount "1" @default.
- W3125725836 countsByYear W31257258362021 @default.
- W3125725836 crossrefType "journal-article" @default.
- W3125725836 hasAuthorship W3125725836A5021747791 @default.
- W3125725836 hasConcept C126780896 @default.
- W3125725836 hasConcept C144237770 @default.
- W3125725836 hasConcept C148220186 @default.
- W3125725836 hasConcept C149782125 @default.
- W3125725836 hasConcept C162324750 @default.
- W3125725836 hasConcept C175444787 @default.
- W3125725836 hasConcept C18903297 @default.
- W3125725836 hasConcept C194257627 @default.
- W3125725836 hasConcept C196345963 @default.
- W3125725836 hasConcept C22171661 @default.
- W3125725836 hasConcept C2776257435 @default.
- W3125725836 hasConcept C2780964549 @default.
- W3125725836 hasConcept C31258907 @default.
- W3125725836 hasConcept C41008148 @default.
- W3125725836 hasConcept C46814582 @default.
- W3125725836 hasConcept C86803240 @default.
- W3125725836 hasConcept C91306197 @default.
- W3125725836 hasConceptScore W3125725836C126780896 @default.
- W3125725836 hasConceptScore W3125725836C144237770 @default.
- W3125725836 hasConceptScore W3125725836C148220186 @default.
- W3125725836 hasConceptScore W3125725836C149782125 @default.
- W3125725836 hasConceptScore W3125725836C162324750 @default.
- W3125725836 hasConceptScore W3125725836C175444787 @default.
- W3125725836 hasConceptScore W3125725836C18903297 @default.
- W3125725836 hasConceptScore W3125725836C194257627 @default.
- W3125725836 hasConceptScore W3125725836C196345963 @default.
- W3125725836 hasConceptScore W3125725836C22171661 @default.
- W3125725836 hasConceptScore W3125725836C2776257435 @default.
- W3125725836 hasConceptScore W3125725836C2780964549 @default.
- W3125725836 hasConceptScore W3125725836C31258907 @default.
- W3125725836 hasConceptScore W3125725836C41008148 @default.
- W3125725836 hasConceptScore W3125725836C46814582 @default.
- W3125725836 hasConceptScore W3125725836C86803240 @default.
- W3125725836 hasConceptScore W3125725836C91306197 @default.
- W3125725836 hasLocation W31257258361 @default.
- W3125725836 hasOpenAccess W3125725836 @default.
- W3125725836 hasPrimaryLocation W31257258361 @default.
- W3125725836 hasRelatedWork W1487498099 @default.
- W3125725836 hasRelatedWork W1514141595 @default.
- W3125725836 hasRelatedWork W1562602669 @default.
- W3125725836 hasRelatedWork W1584671858 @default.
- W3125725836 hasRelatedWork W1974610388 @default.
- W3125725836 hasRelatedWork W1985656596 @default.
- W3125725836 hasRelatedWork W1987156755 @default.
- W3125725836 hasRelatedWork W2005586582 @default.
- W3125725836 hasRelatedWork W2104183773 @default.
- W3125725836 hasRelatedWork W2139442865 @default.
- W3125725836 hasRelatedWork W2146102385 @default.
- W3125725836 hasRelatedWork W2171354870 @default.
- W3125725836 hasRelatedWork W2254790089 @default.
- W3125725836 hasRelatedWork W2601338636 @default.
- W3125725836 hasRelatedWork W3122901197 @default.
- W3125725836 hasRelatedWork W3123089633 @default.
- W3125725836 hasRelatedWork W3135902087 @default.
- W3125725836 hasRelatedWork W41154449 @default.
- W3125725836 hasRelatedWork W92270739 @default.
- W3125725836 hasRelatedWork W2184312270 @default.
- W3125725836 isParatext "false" @default.
- W3125725836 isRetracted "false" @default.
- W3125725836 magId "3125725836" @default.
- W3125725836 workType "article" @default.