Key points are not available for this paper at this time.
Introduction, 351. — I. The conditions of market efficiency, 353. — II. Neoclassical external economies: a digression, 356. — III. Statical externalities: an ordering, 363. — IV. Comments, 371. — V. Efficiency, markets and choice of institutions, 377.
Francis M. Bator (1958) studied this question.