This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders' fairness attitudes. In equilibrium fairness matters because of market...

This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders' fairness attitudes. In equilibrium fairness matters because of market...

A general equilibrium model is considered with multiple divisible and multiple indivisible commodities.In models with indivisibles it is always assumed that an indivisible commodity, called money, is present that is used to transfer the value of certain amounts of indivisible goods.For these...

Настоящий доклад посвящен некоторым аспектам теории «опекаемых благ» в контексте эффективного и неэффективного равновесия. В работе представлены особенности...

Настоящий доклад посвящен некоторым аспектам теории опекаемых благ в контексте эффективного и неэффективного равновесия. Представлены особенности опекаемых...

Considered here is direct exchange of production allowances or input factors. Motivated by practical modeling and compution, we suppose every owner or user of such items has a linear technology. The issue is whether competitive market equilibrium can be reached merely via iterated bilateral...

Настоящий доклад посвящен некоторым аспектам теории «опекаемых благ» в контексте эффективного и неэффективного равновесия. В работе представлены особенности...

Настоящий доклад посвящен некоторым аспектам теории опекаемых благ в контексте эффективного и неэффективного равновесия. Представлены особенности опекаемых...

This paper uses the complexity of non-competitive behaviour to provide a new justification for competitive equilibrium in the context of extensive-form market games with a finite number of agents. This paper demonstrates that if rational agents have (at least at the margin) an aversion for...

In this paper we present a recursive method for the computation of dynamic competitive equilibria in models with heterogeneous agents and market frictions. This method is based upon a convergent operator over an expanded set of state variables. The fixed point of this operator defines the set...