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We show that asset opacity can improve the efficiency of investment in the economy. We consider a model where … improve economic efficiency, due to a general equilibrium effect …
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change, technical and allocative efficiency improvement in Chinese agriculture during the reform period (1980-93). The … have had significant impact on technical efficiency but not allocative efficiency. During the second phase reforms which … were supposed to focus on the liberalization of rural markets, technical efficiency improved very little and allocative …
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I study a market where agents with jointly owned heterogeneous goods trade subject to the constraint that each agent ends up with one good. In this market the existence of an efficient, incentive compatible, individually rational and budget balanced mechanism depends on the shares of the agents....
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allocative and productive efficiency. We review theory and recent evidence on these linkages and also explore a third effect on …
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