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Demand-Performance-Supply Equilibria in Centrally Planned Economies: a Three-Level Approach

Author

Listed:
  • Gaudry, M.J.I.
  • Kowalski, J.S.

Abstract

We Adapt and Develop for the Analysis of Centrally Planned Economies a Conceptual Framework Originally Designed for the Analysis of Transportation Systems. This Framework Adds an Explicit Performance Level Between the Demand and Supply Levels of Analysis. This Three-Level Approach, Formulated Very Generally Here to Distinguish It From Particular Formulations and Allow Them As Nested Special Cases, Makes Possible the Definition of Multiple Equlibria Defined on Quantities, Prices and Service Levels. the Specifics of How Queues (And Black and Shadow Markets) Can Yield an Extended Equilibrium Are Outlined and the Implications of the Three-Level Approach for Econometric Model Estimation Alluded To. We Contrast Our Approach Mainly to That of Kornai.

Suggested Citation

  • Gaudry, M.J.I. & Kowalski, J.S., 1986. "Demand-Performance-Supply Equilibria in Centrally Planned Economies: a Three-Level Approach," Cahiers de recherche 8620, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8620
    as

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