On the efficiency of fixed price equilibrium

Eric S. Maskin*, Jean Tirole

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    6 Scopus citations

    Abstract

    We study the efficiency properties of K-equilibrium, a species of fixed price equilibrium. In particular, we examine the interrelations among K-equilibria and two of its properties: order and voluntariness. We also consider several alternative concepts of optimality.

    Original languageEnglish (US)
    Pages (from-to)317-327
    Number of pages11
    JournalJournal of Economic Theory
    Volume32
    Issue number2
    DOIs
    StatePublished - Apr 1984

    ASJC Scopus subject areas

    • Economics and Econometrics

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