1-Dimensional Normal Competitive Market Equilibrium
Thanawat Sornwanee
TL;DR
This paper introduces a new microeconomic foundation for a specific type of competitive market equilibrium, applicable to markets with information asymmetry like commodities, credit, and insurance.
Contribution
It presents a novel theoretical framework for understanding market equilibria under information asymmetry in various economic markets.
Findings
Provides a new model for markets with information asymmetry
Applicable to commodity, credit, and insurance markets
Lays groundwork for further theoretical analysis
Abstract
We introduce a new microeconomics foundation of a specific type of competitive market equilibrium that can be used to study several markets with information asymmetry such as commodity market, credit market, and insurance market.
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