Stability and Competitive Equilibrium in Trading Networks
نویسندگان
چکیده
منابع مشابه
Stability and Competitive Equilibrium in Trading Networks
We introduce a model in which agents in a network can trade via bilateral contracts. We find that when continuous transfers are allowed and utilities are quasilinear, the full substitutability of preferences is sufficient to guarantee the existence of stable outcomes for any underlying network structure. Furthermore, the set of stable outcomes is essentially equivalent to the set of competitive...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2013
ISSN: 0022-3808,1537-534X
DOI: 10.1086/673402