Colander, David; Gaastra, Sieuwerd; Rothschild, Casey - In: Southern Economic Journal 77 (2010) 1, pp. 213-223
In most introductory and intermediate microeconomics textbooks, the measurable welfare effects of price controls, quantitative restrictions, and market restrictions more generally, are depicted as a Harberger triangle. This depiction understates these restrictions’ inefficiency costs because...
