haku: @indexterm EQUILIBRIUM THEORY / yhteensä: 340
viite: 37 / 340
| Tekijä: | Peters, M. |
| Otsikko: | Limits of Exact Equilibria for Capacity Constrained Sellers with Costly Search |
| Lehti: | Journal of Economic Theory
2000 : DEC, VOL. 95:2, p. 139-168 |
| Asiasana: | MATCHING PROBLEM PRICING COSTS EQUILIBRIUM THEORY |
| Kieli: | eng |
| Tiivistelmä: | This paper studies finite versions of competitive matching models in which sellers announce prices and buyers understand the relationship between price and probability of trade. In this paper a simple two stage game is analyzed. Sellers make price offers, then buyers engage in a non- cooperative matching profits in order to determine who trades. Two equilibrium concepts are studied for finite games, subgame perfect equilibrium and rational expectation equilibrium. It is shown that the distribution of prices offered by sellers under both equilibrium concepts converges weakly to the same competitive equilibrium distribution of prices. Furthermore, the payoffs that sellers face in both kinds of equilibrium have the market utility property in the limit. The article provides a substantial list of references on this subject. |
SCIMA