Anwar, Ahmed W; Sákovics, József - In: The B.E. Journal of Theoretical Economics 7 (2007) 1
We characterize the steady state of a market with random matching and bargaining, where the sellers' goods can perish overnight. Generically, the quantity traded is suboptimal, prices are dispersed and there is a dead-weight loss caused by excess supply or demand. In the limit as the cost of...