Arbatskaya, Maria; Mukhopadhaya, Kaushik; Rasmusen, Eric - Center for International Research on the Japanese … - 2001
If there is queueing for an underpriced good, the queueing can eat up the entire surplus, eliminating the social value of the good. An implication is that there is a discontinuity in social welfare between "enough" and "not enough" for certain goods such as parking spaces. This implies that if...