Working Paper No. 236

Regulations in Search Markets

Published: December, 1989Pages: 15

Regulations in Search Markets Bo Axell


In a market with information costs, i.e., a search market, the equilibrium formation of prices and outputs will differ significantly from that of a purely competitive market. The equilibrium will be either a monopoly price or a price distribution. Hence, it is normally not a socially optimal situation. The problem discussed in this paper is what kinds of rules and regulations that can be introduced in a search market to improve the solution from a social welfare point of view.

Interdisciplinary European Studies

The European Union in a Changing World Order

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This book explores how the European Union responds to the ongoing challenges to the liberal international order. These challenges arise both within the EU itself and beyond its borders, and put into question the values of free trade and liberal democracy. 

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