A Market-Based Solution for Fire Sales and Other Pecuniary Externalities
In economies with a continuum of agents of different types, pecuniary externalities are removed with market exchanges. Agents choose from among various possible prices they want to prevail in the future and buy or sell rights in these market exchanges for future trade. Each agent can choose the exch...
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| Format: | Article |
| Language: | English |
| Published: |
University of Chicago Press,
2021-04-22T17:36:02Z.
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| Subjects: | |
| Online Access: | Get fulltext |