Welfare enhancing uncertainty
In this paper it is shown that one of the intrinsic characteristics of the canonical Melitz (2003) type framework is that inclusion of further uncertainties enhances the aggregate welfare of the given economy, though reducing the total varieties available. Here the uncertainty assumed is, payment ri...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2020-12-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1494.pdf
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