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Competitive markets and “as if” methodology
Quesada, Antonio
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EconWPA
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2005
Two results showing the limitations of the “as if” methodology are proved under relatively mild assumptions. In an interpretation of the results, a competitive market cannot simulate the outcome of a market M in which the single price assumption does not hold. In a second interpretation, the...
Persistent link: https://www.econbiz.de/10005561785
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Networks and market laws
Quesada, Antonio
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EconWPA
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2004
The effects on the market price of a change in the number of buyers, in the number of sellers, in the prices sellers set and in the buyers’ reservation prices are established in a simple network model of a market.
Persistent link: https://www.econbiz.de/10005135061
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