To Trade Or Not To Trade: Economies With A Variable Number Of Tradeables*
构建了一个一般均衡模型，其中可贸易商品集合是内生选择的，市场制度有成本且决定商品的可贸易性，证明了帕累托有效配置的存在与分散化，并用行会经济向市场经济转型的例子加以说明。
We present a general equilibrium model that encompasses the endogenous selection and shadow‐pricing of a set of tradeable commodities, with home‐based and social production activities. In the model, a market system is a set of costly social institutions which embody the trade and production technologies available in the economy. Our equilibrium concept describes the pricing of market institutions, thus pricing the tradeability of a commodity. We obtain the existence and the decentralization of Pareto‐efficient allocations. We discuss an example regarding the transition of a guild‐based economy into a market‐based economy.