equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can … realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with Leontief preferences, the … time required to compute equilibrium prices using the fastest known techniques is an exponential function of the number of …

Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result are differences in … illustrate the effect of barriers on prices. A unique data set-derived from an extensive analysis of competition policies in … Spain- provides evidence that barriers to entry increase regional prices. The evidence also suggests that, consistent with …

estimates are potentially inefficient and open to omitted variable bias for two reasons. First, they use average prices across … outlets as the left-hand-side variable. Second, quality-adjusted prices of non-comparable replacements, required when products …

toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for … these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances …