Income distribution, efficiency and rationing

Ensar YIlmaz

Economic Modelling, 2011, vol. 28, issue 3, 1247-1255

Abstract: This paper studies the impacts of income distribution on the efficiency of trade mechanism and rationing of agents who are priced out of trade in a dynamic search model with two-sided asymmetric information. Buyers and sellers have asymmetric information about valuations and incomes respectively. In such a frictional environment, the effects of several variants of changes in income distribution on efficiency of trading mechanism and the population of rationed buyers and sellers are elaborated.

Keywords: Income; distribution; Efficiency; Rationing; Search (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:28:y:2011:i:3:p:1247-1255

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