The Stahl-Alexeev paradox: A note
Publication
, Journal Article
Gang, IN; Tower, E
Published in: Journal of Economic Theory
January 1, 1988
We offer a simple proof of the paradox discovered by Stahl and Alexeev that the introduction of black markets in a fixed price economy with a rationing mechanism consisting of waiting line queues is not necessarily a Pareto improvement. We show that the paradoxical result arises from the fact that queue length is endogenous and illustrates the general principle that permitting an additional market may be undesirable in an economy which has other distortions. © 1988.
Duke Scholars
Published In
Journal of Economic Theory
DOI
EISSN
1095-7235
ISSN
0022-0531
Publication Date
January 1, 1988
Volume
44
Issue
1
Start / End Page
189 / 191
Related Subject Headings
- Economic Theory
- 3803 Economic theory
- 3801 Applied economics
- 1499 Other Economics
- 1401 Economic Theory
Citation
APA
Chicago
ICMJE
MLA
NLM
Gang, I. N., & Tower, E. (1988). The Stahl-Alexeev paradox: A note. Journal of Economic Theory, 44(1), 189–191. https://doi.org/10.1016/0022-0531(88)90103-2
Gang, I. N., and E. Tower. “The Stahl-Alexeev paradox: A note.” Journal of Economic Theory 44, no. 1 (January 1, 1988): 189–91. https://doi.org/10.1016/0022-0531(88)90103-2.
Gang IN, Tower E. The Stahl-Alexeev paradox: A note. Journal of Economic Theory. 1988 Jan 1;44(1):189–91.
Gang, I. N., and E. Tower. “The Stahl-Alexeev paradox: A note.” Journal of Economic Theory, vol. 44, no. 1, Jan. 1988, pp. 189–91. Scopus, doi:10.1016/0022-0531(88)90103-2.
Gang IN, Tower E. The Stahl-Alexeev paradox: A note. Journal of Economic Theory. 1988 Jan 1;44(1):189–191.
Published In
Journal of Economic Theory
DOI
EISSN
1095-7235
ISSN
0022-0531
Publication Date
January 1, 1988
Volume
44
Issue
1
Start / End Page
189 / 191
Related Subject Headings
- Economic Theory
- 3803 Economic theory
- 3801 Applied economics
- 1499 Other Economics
- 1401 Economic Theory