Inefficiency caused by random matching and heterogeneity
نویسندگان
چکیده
منابع مشابه
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 inefficiency, compared to the Walrasian market, caused by a market where the agents meet randomly. There are several causes of inefficiency that I deal with separately. First, even if there is perfect information about valuations i...
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ژورنال
عنوان ژورنال: Portuguese Economic Journal
سال: 2009
ISSN: 1617-982X,1617-9838
DOI: 10.1007/s10258-009-0051-y