Abstract The causes of market inefficiency are many. We suggest an additional cause — buyers’ random entry order. In a where identical sellers compete for buyers heterogeneous valuations, first come served is the norm. Since all choose cheapest available good, low-valuation buyer who enters late may find remaining goods unaffordable, which markets not to clear. therefore propose coordination so...

We demonstrate how earlier approaches to model the impact that corporate social responsibility (CSR) has on investment inefficiency are likely be incorrect and propose use of stochastic frontier methodology this relationship. apply approach a sample European listed companies, providing robust evidence CSR performance is negatively associated with inefficiency. This result consistent claim high ...