G2TT
来源类型Discussion paper
规范类型论文
来源IDDP954
DP954 Convergence Empirics Across Economies with (Some) Capital Mobility
Danny Quah
发表日期1994-05-31
出版年1994
语种英语
摘要This paper extends the bargaining and matching literature such as Rubinstein (1985) and Gale (1986 and 1987) by considering a new matching process. We assume that a central information agency exists, such as job centres and newspapers in the labour market, or real estate agents in the housing market, which puts potential traders into direct contact with each other. With agent heterogeneity, equilibrium trade is characterized by existing traders on the other side (since existing traders have already sampled and rejected each other). Two procedures of trade coexist, namely strategic bilateral bargaining and a competitive bidding process, depending on the number of potential matches a new trader obtains. We characterize the unique symmetric Markov Perfect equilibrium to this stochastic trading game.
关键词Matching Perfect equilibrium Strategic bargaining
URLhttps://cepr.org/publications/dp954
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530097
推荐引用方式
GB/T 7714
Danny Quah. DP954 Convergence Empirics Across Economies with (Some) Capital Mobility. 1994.
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