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We establish new efficiency results for decentralized markets with quality uncertainty. Buyers encounter a succession of passing trade opportunities and related asset information, allowing them to …
Discussion paper
Distributive justice principles are commonly used in societal debates to support policy positions and argue for their legitimacy. Prominent formal incarnations of such principles are the Rawlsian, …
Discussion paper
After 2008, the Southern European economies suffered a strong and persistent increase in unemployment. Rising government bond spreads necessitated the implementation of austerity policies. Austerity, …
Discussion paper