Inefficiency caused by random matching and heterogeneity

Detalhes bibliográficos
Autor(a) principal: Kultti, Klaus
Data de Publicação: 2010
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/15609
Resumo: I study an economy with sellers and buyers with unit supplies and unit demands. Both parties have valuations uniformly distributed on a unit interval. I quantify the ineffi ciency, compared to the Walrasian markets, when the agents meet randomly. There are several causes of ineffi ciency that I deal with separately. First, even if there is perfect information about valuations it makes a diff erence whether all agents participate in the markets or whether only those who would trade in the Walrasian market participate. The same applies when there is private information about valuations.
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spelling Inefficiency caused by random matching and heterogeneityInefficiencyRandom matchingHeterogeneityI study an economy with sellers and buyers with unit supplies and unit demands. Both parties have valuations uniformly distributed on a unit interval. I quantify the ineffi ciency, compared to the Walrasian markets, when the agents meet randomly. There are several causes of ineffi ciency that I deal with separately. First, even if there is perfect information about valuations it makes a diff erence whether all agents participate in the markets or whether only those who would trade in the Walrasian market participate. The same applies when there is private information about valuations.Springer VerlagRepositório da Universidade de LisboaKultti, Klaus2018-06-14T08:58:24Z2010-042010-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15609engKultti, Klaus (2010). "Inefficiency caused by random matching and heterogeneity". Portuguese Economic Journal, 9(1):19-281617-982X (print)10.1007/s10258-009-0051-ymetadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:45:32Zoai:www.repository.utl.pt:10400.5/15609Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:14.607676Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Inefficiency caused by random matching and heterogeneity
title Inefficiency caused by random matching and heterogeneity
spellingShingle Inefficiency caused by random matching and heterogeneity
Kultti, Klaus
Inefficiency
Random matching
Heterogeneity
title_short Inefficiency caused by random matching and heterogeneity
title_full Inefficiency caused by random matching and heterogeneity
title_fullStr Inefficiency caused by random matching and heterogeneity
title_full_unstemmed Inefficiency caused by random matching and heterogeneity
title_sort Inefficiency caused by random matching and heterogeneity
author Kultti, Klaus
author_facet Kultti, Klaus
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Kultti, Klaus
dc.subject.por.fl_str_mv Inefficiency
Random matching
Heterogeneity
topic Inefficiency
Random matching
Heterogeneity
description I study an economy with sellers and buyers with unit supplies and unit demands. Both parties have valuations uniformly distributed on a unit interval. I quantify the ineffi ciency, compared to the Walrasian markets, when the agents meet randomly. There are several causes of ineffi ciency that I deal with separately. First, even if there is perfect information about valuations it makes a diff erence whether all agents participate in the markets or whether only those who would trade in the Walrasian market participate. The same applies when there is private information about valuations.
publishDate 2010
dc.date.none.fl_str_mv 2010-04
2010-04-01T00:00:00Z
2018-06-14T08:58:24Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/15609
url http://hdl.handle.net/10400.5/15609
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Kultti, Klaus (2010). "Inefficiency caused by random matching and heterogeneity". Portuguese Economic Journal, 9(1):19-28
1617-982X (print)
10.1007/s10258-009-0051-y
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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