Short sales, destruction of resources, welfare

Nikolaos Kokonas, Herakles Polemarchakis

Research output: Contribution to journalArticle

1 Citation (Scopus)
87 Downloads (Pure)

Abstract

A reduction in the output of productive assets (trees) in some contingencies may expand the range of risks spanned by the payoffs of assets and allow for better risk sharing; which may compensate for the loss of output and support a Pareto superior allocation. Surprisingly, if short sales of assets are not allowed, improved risk sharing that results from the destruction of output does not suffice to support a Pareto superior allocation.
Original languageEnglish
Pages (from-to)120-124
Number of pages4
JournalJournal of Mathematical Economics
Volume67
Early online date29 Sep 2016
DOIs
Publication statusPublished - 1 Dec 2016

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Welfare
Risk Sharing
Sales
Pareto
Resources
Output
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Range of data
Assets
Short sales
Risk sharing

Keywords

  • short sales
  • destruction
  • welfare

Cite this

Short sales, destruction of resources, welfare. / Kokonas, Nikolaos; Polemarchakis, Herakles.

In: Journal of Mathematical Economics, Vol. 67, 01.12.2016, p. 120-124.

Research output: Contribution to journalArticle

Kokonas, Nikolaos ; Polemarchakis, Herakles. / Short sales, destruction of resources, welfare. In: Journal of Mathematical Economics. 2016 ; Vol. 67. pp. 120-124.
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