The Foundation of Market Quality Economics

Makoto Yano

No 2008-001, Keio/Kyoto Joint Global COE Discussion Paper Series from Keio/Kyoto Joint Global COE Program

Abstract: This study is based on my observation that high quality markets are indispensable for the healthy growth of a modern economy. Many problems surrounding markets are attributable to the lack of high quality markets. An industrial revolution creates extremely vibrant but unhealthy markets. This study introduces a concept of fairness in dealing and pricing (competitive fairness), which differs from efficiency, and define market quality as a measure for the efficiency of allocation and the fairness of dealing and pricing. This study shows that competitive fairness is achieved by several market mechanisms that I constructed in my previous work.

Pages: 67 pages
Date: 2008
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: THE FOUNDATION OF MARKET QUALITY ECONOMICS* (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:kei:dpaper:2008-001

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