Publication:
Prices, delay and the dynamics of trade

Simple item page
dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorMoreno, Diego
dc.contributor.authorWooders, John
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned2010-03-10T11:07:35Z
dc.date.available2010-03-10T11:07:35Z
dc.date.issued1999-05
dc.description.abstractWe characterize trading patterns and their dynamics in a market in which trade is bilateral, finding a trading partner is costly, prices are determined by bargaining, and preferences are private information. We also determine how the trading pattern depends on the market composition. Our analysis reveals that market equilibria may be inefficient and may exhibit delay. As the market becomes frictionless the welfare loss due to inefficiency vanishes; delay persists, however, and in this respect frictionless markets are not competitive.
dc.format.mimetypeapplication/pdf
dc.identifier.issn2340-5031
dc.identifier.urihttps://hdl.handle.net/10016/7217
dc.language.isoeng
dc.relation.ispartofseriesUC3M Working papers. Economics
dc.relation.ispartofseries1999-32-14
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEconomía
dc.subject.otherTrade dynamics
dc.subject.otherMatching
dc.subject.otherBargaining
dc.subject.otherDelay
dc.subject.otherAsymmetric information
dc.subject.otherDecentralized trade
dc.titlePrices, delay and the dynamics of trade
dc.typeworking paper*
dspace.entity.typePublication
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
we993214.PDF
Size:
2.65 MB
Format:
Adobe Portable Document Format
Description:
Download
Collections
DE - Working Papers. Economics. WE
Economists Online