Accounting for Agent Heterogeneity in Market and Policy Analysis

Accounting for Agent Heterogeneity in Market and Policy Analysis
Author :
Publisher : Lulu.com
Total Pages : 200
Release :
ISBN-10 : 9781609621421
ISBN-13 : 1609621425
Rating : 4/5 (21 Downloads)

Book Synopsis Accounting for Agent Heterogeneity in Market and Policy Analysis by : Konstantinos Giannakas

Download or read book Accounting for Agent Heterogeneity in Market and Policy Analysis written by Konstantinos Giannakas and published by Lulu.com. This book was released on 2018-12-19 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a multi-market framework of market and policy analysis that explicitly accounts for the empirically relevant heterogeneity in consumer preferences and producer characteristics. The explicit consideration of consumer and producer heterogeneity represents a significant departure from the representative consumer and producer that have been at the center of most of the literature on market and policy analysis, and enables the distributional impacts of changes in market conditions and policies to be fully identified. The framework is used to analyze the system-wide market and welfare impacts of a number of changes in market conditions (like changes in consumer preferences, costs and market structure) and policies (like subsidies and taxes) on one of the products in the system. Consistent with a priori expectations, the use of the framework unveils impacts masked by the conventional market and policy analysis.


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