Satterthwaite, Mark; Shneyerov, Artyom - In: Econometrica 75 (2007) 1, pp. 155-200
Consider a decentralized, dynamic market with an infinite horizon and participation costs in which both buyers and sellers have private information concerning their values for the indivisible traded good. Time is discrete, each period has length δ, and, each unit of time, continuums of new...