Vickrey's Counter-Couterspeculative Control Theory
4 Pages Posted: 24 Jan 2015
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: 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
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