Workinn Paper 92 17 COMMITMENT AS IRREVERSIBLE INVESTMENT by Joseph G. Haubrich and Joseph A. Ritter Joseph G. Haubrich is an economic advisor at the Federal Reserve Bank…
Slide 11 2--MARKET FAILURE October 17, 2014 Slide 2 2 An Idea from Last Time Prices summarize info and make surplus-maximizing trades take place. Slide 3 Packet Supply 3…