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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| Formato: | article |
| Idioma: | eng |
| Publicado em: |
2018
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| Assuntos: | |
| Texto completo: | http://hdl.handle.net/10400.5/15609 |
| País: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/15609 |