Income distribution, efficiency and rationing |
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Authors: | Ensar Y?lmaz |
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Affiliation: | Yildiz Technical University, Department of Economics, Yildiz, Besiktas, 34349, Istanbul, Turkey |
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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. |
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Keywords: | D31 D82 D83 |
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