Inefficiency caused by random matching and heterogeneity
I study an economy with sellers and buyers with unit supplies and unit demands. Both parties have valuations uniformly distributed on a unit interval. I quantify the ineffi ciency, compared to the Walrasian markets, when the agents meet randomly. There are several causes of ineffi ciency that I deal...
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| Format: | article |
| Language: | eng |
| Published: |
2018
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10400.5/15609 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/15609 |