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On Gale and Shapley ‘College admissions and stability of marriage’
GABSZEWICZ, Jean J.; GARCIA, Filomena; PAIS, Joana; … - Center for Operations Research and Econometrics (CORE), … - 2008
In this note, we start to claim that established marriages can be heavily destabilized when the population of existing couples is enriched by the arrival of new candidates to marriage. Afterwards, we discuss briefly how stability concepts can be extended to account for entry and exit phenomena...
Persistent link: https://www.econbiz.de/10005008260
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The spatial sorting and matching of skills and firms
MION, Giordano; NATICCHIONI, Paolo - Center for Operations Research and Econometrics (CORE), … - 2006
attributed to aggregate proxies of agglomeration externalities. Our data further support the assortative matching hypothesis …, that is'good' workers match on the labor market with 'good' firms, and we further show that assortative matching is not … driven by a co-location of workers and firms of similar quality. Finally, we point out that this assortative matching is …
Persistent link: https://www.econbiz.de/10005008356
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Toward a theory of monopolistic competition
PARENTI, Mathieu; USHCHEV, Philip; THISSE, Jacques-François - Center for Operations Research and Econometrics (CORE), … - 2014
We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. The basic tool we use to study the market outcome is the elasticity of substitution at a symmetric consumption pattern,...
Persistent link: https://www.econbiz.de/10011246296
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Oligopolistic vs. monopolistic competition: do intersectoral effects matter?
d’ASPREMONT, Claude; DOS SANTOS FERRERIA, Rodolphe - Center for Operations Research and Econometrics (CORE), … - 2015
Recent extensions of the standard Dixit-Stiglitz (1977) model, that go beyond the CES sub-utility assumption, while maintaining monopolistic competition, have mainly emphasized the role of iintrasectoral substitutability. We argue that introducing oligopolistic competition can be an alternative...
Persistent link: https://www.econbiz.de/10011246324
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When Borch’s Theorem does not apply: some key implications of market incompleteness, with policy relevance today
DREZE, Jacques - Center for Operations Research and Econometrics (CORE), … - 2013
Markets are incomplete when the assets available to the agents do not span the space of future contingencies. Efficiency is then assessed by the weak criterion of "constrained efficiency" (efficiency relative to the set of allocations compatible with the asset structure). That criterion requires...
Persistent link: https://www.econbiz.de/10010662664
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Tradable pollution permits in dynamic general equilibrium: can optimality and acceptability be reconciled?
BRECHET, Thierry; JOUVET, Pierre - André; ROTILLON, Gilles - Center for Operations Research and Econometrics (CORE), … - 2010
In this paper we study the optimal growth path and its decentralization in a two-sector overlapping- generations model with pollution. One sector (power generation) is polluting and the other (final good) is not. Pollution is regulated by tradable emission permits. The issue is whether the...
Persistent link: https://www.econbiz.de/10008836165
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Incomplete-markets economies: the seminal work of Diamond, Drèze and Radner
DEHEZ, Pierre - Center for Operations Research and Econometrics (CORE), … - 2012
The present note highlights the seminal contributions of Diamond, Drèze and Radner towards the integration of financial markets into general equilibrium modeling.
Persistent link: https://www.econbiz.de/10010927713
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Continua of underemployment equilibria
DREZE, Jacques H.; HERINGS, P. Jean-Jacques - Center for Operations Research and Econometrics (CORE), … - 1998
In this paper the existence of unemployment is partly explained as being the result of coordination failures. This is … arise at other price systems, but then unemployment is the result of both a wrong price system and coordination failures …
Persistent link: https://www.econbiz.de/10005008548
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Stock prices, anticipations and investment in general equilibrium
DREZE, Jacques H.; LACHIRI, Oussama; MINELLI, Enrico - Center for Operations Research and Econometrics (CORE), … - 2009
We propose an objective for the firm in a model of production economies extending over time under uncertainty and with incomplete markets. We derive the objective of the firm from the assumption of initial-shareholders efficiency. Each shareholder is assumed to communicate to the firm her...
Persistent link: https://www.econbiz.de/10008550184
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On the Dynamics of Supply-Constrained Equilibria.
Dreze, J. - Center for Operations Research and Econometrics (CORE), … - 1999
The paper defines a simple tatonnement process of adjustments in prices and quantities, where excess demand results in nominal price increases and excess supply results in quantity rationing of supply at unchanged prices. Under reasonable assumptions, the process converges to a...
Persistent link: https://www.econbiz.de/10005779410