On the efficiency of decentralized exchange with resale possibilities

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Standard

On the efficiency of decentralized exchange with resale possibilities. / Groes, Ebbe; Tranæs, Torben.

I: Guoji Jingji Pinglun, Bind 40, Nr. 2, 1999, s. 423-438.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Groes, E & Tranæs, T 1999, 'On the efficiency of decentralized exchange with resale possibilities', Guoji Jingji Pinglun, bind 40, nr. 2, s. 423-438. https://doi.org/10.1111/1468-2354.00022

APA

Groes, E., & Tranæs, T. (1999). On the efficiency of decentralized exchange with resale possibilities. Guoji Jingji Pinglun, 40(2), 423-438. https://doi.org/10.1111/1468-2354.00022

Vancouver

Groes E, Tranæs T. On the efficiency of decentralized exchange with resale possibilities. Guoji Jingji Pinglun. 1999;40(2):423-438. https://doi.org/10.1111/1468-2354.00022

Author

Groes, Ebbe ; Tranæs, Torben. / On the efficiency of decentralized exchange with resale possibilities. I: Guoji Jingji Pinglun. 1999 ; Bind 40, Nr. 2. s. 423-438.

Bibtex

@article{801a106074c611dbbee902004c4f4f50,
title = "On the efficiency of decentralized exchange with resale possibilities",
abstract = "This paper studies decentralized exchange by bilateral matching and bargaining when resale is possible. Decentralized exchange involves the risk that goods and services may be allocated inefficiently; if low-valuation buyers consume while high-valuation buyers do not, then social welfare is reduced. If resale is possible and transaction costs are negligible, we would nevertheless expect an efficient allocation to result from decentralized exchange. This paper suggests that this depends on the nature of the commodity; while the allocation of a durable good will be efficient, the allocation of a {"}consumable{"} good need not",
author = "Ebbe Groes and Torben Tran{\ae}s",
note = "JEL Classification: C7, L1",
year = "1999",
doi = "10.1111/1468-2354.00022",
language = "English",
volume = "40",
pages = "423--438",
journal = "Guoji Jingji Pinglun",
issn = "1007-0974",
number = "2",

}

RIS

TY - JOUR

T1 - On the efficiency of decentralized exchange with resale possibilities

AU - Groes, Ebbe

AU - Tranæs, Torben

N1 - JEL Classification: C7, L1

PY - 1999

Y1 - 1999

N2 - This paper studies decentralized exchange by bilateral matching and bargaining when resale is possible. Decentralized exchange involves the risk that goods and services may be allocated inefficiently; if low-valuation buyers consume while high-valuation buyers do not, then social welfare is reduced. If resale is possible and transaction costs are negligible, we would nevertheless expect an efficient allocation to result from decentralized exchange. This paper suggests that this depends on the nature of the commodity; while the allocation of a durable good will be efficient, the allocation of a "consumable" good need not

AB - This paper studies decentralized exchange by bilateral matching and bargaining when resale is possible. Decentralized exchange involves the risk that goods and services may be allocated inefficiently; if low-valuation buyers consume while high-valuation buyers do not, then social welfare is reduced. If resale is possible and transaction costs are negligible, we would nevertheless expect an efficient allocation to result from decentralized exchange. This paper suggests that this depends on the nature of the commodity; while the allocation of a durable good will be efficient, the allocation of a "consumable" good need not

U2 - 10.1111/1468-2354.00022

DO - 10.1111/1468-2354.00022

M3 - Journal article

VL - 40

SP - 423

EP - 438

JO - Guoji Jingji Pinglun

JF - Guoji Jingji Pinglun

SN - 1007-0974

IS - 2

ER -

ID: 152049