Vickrey's Counter-Couterspeculative Control Theory

4 Pages Posted: 24 Jan 2015

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

Date Written: January 22, 2015

Abstract

Vickrey tries to solve the socialist problem of shortage, by giving both the buyers and the sellers extra benefit. This paper proves that such squandering leads to more shortage, and argues that the only correct measure to solve shortage is market liberalization.

Keywords: Incentive

JEL Classification: D45

Suggested Citation

Choi, Hak, Vickrey's Counter-Couterspeculative Control Theory (January 22, 2015). Available at SSRN: https://ssrn.com/abstract=2554173 or http://dx.doi.org/10.2139/ssrn.2554173

Hak Choi (Contact Author)

Chienkuo Technology University - Department of International Business ( email )

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Chung-Hua Institution for Economic Research ( email )

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Taipei
Taiwan

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