The Resource Allocation Efficiency of Service Markets

Dong-Joo Moon ()
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Dong-Joo Moon: Seoul National University

Chapter Chapter 13 in Congestion-Prone Services Under Quality Competition, 2011, pp 331-358 from Springer

Abstract: Abstract It is said that market economies attain the highest level of resource allocation efficiency when their resource allocations attain Pareto optimality at which no one can be better off without making others worse off. Is this well-known proposition of current welfare economics applicable to the evaluation of resource allocation efficiency in congestion-prone service markets under quality competition? We introduce here one example for which this proposition does not provide a satisfactory answer for marketwise resource allocation efficiency, as described below.

Keywords: Service Quality; Service Firm; Service Market; Agglomeration Economy; Large Urban Area (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-20189-9_13

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DOI: 10.1007/978-3-642-20189-9_13

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