Reference-price-independent welfare prescriptions
نویسندگان
چکیده
منابع مشابه
Money, price dispersion and welfare
We introduce heterogeneous preferences into a tractablemodel ofmonetary search to generate price dispersion, and then examine the effects of money growth on price dispersion and welfare. With buyers’ search intensity fixed, we find that money growth increases the range of (real) prices and lowers welfare as agents shift more of their consumption to less desirable goods.When buyers’search intens...
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 1993
ISSN: 0047-2727
DOI: 10.1016/0047-2727(93)90060-7