全球智库信息集成服务系统(G2TT): Equilibrium and Matching under Price Controls

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Equilibrium and Matching under Price Controls
	P. Jean-Jacques Herings
发表日期	2015
出处	Climate Change and Sustainable Development
出版年	2015
语种	英语
摘要	The paper considers a one-to-one matching with contracts model in the presence of price controls. This set-up contains two important streams in the matching literature, those with and those without monetary transfers, as special cases and allows for intermediate cases with some restrictions on the monetary transfers that are feasible. An adjustment process that ends with a stable outcome is presented, thereby proving the existence of stable outcomes. The process contains the deferred acceptance algorithm of Gale and Shapley (1962) and the approximate auction mechanism of Demange, Gale, and Sotomayor (1986) as special cases. The paper presents a notion of competitive equilibrium, called Drèze equilibrium, for this class of models, an extension of the concept as developed by Drèze (1975) for economies with divisible commodities subject to price controls. It is shown that Drèze equilibrium allocations are equivalent to allocations induced by stable outcomes. One implication is the existence of Drèze equilibria. Another implication is the equivalence of a competitive equilibrium concept and the concept of stable outcomes that is valid with and without monetary transfers as well as when monetary transfers are limited. *** Suggested citation: Herings, P.J.J., (2015), 'Equilibrium and Matching under Price Controls', Nota di Lavoro 54.2015, Milan, Italy: Fondazione Eni Enrico Mattei
特色分类	C71;C78;D45;D51
关键词	Price Controls Matching Stable Outcomes Competitive Equilibrium Drèze Equilibrium
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/equilibrium-and-matching-under-price-controls/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/118407
推荐引用方式 GB/T 7714	P. Jean-Jacques Herings. Equilibrium and Matching under Price Controls. 2015.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
20156101054531Nota_d（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
2015610105524NDL2015（1266KB）	智库出版物		限制开放	CC BY-NC-SA	浏览