全球智库信息集成服务系统(G2TT): Knife Edge of Plateau: When Do Market Models Tip?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w9528
来源ID	Working Paper 9528
	Knife Edge of Plateau: When Do Market Models Tip?
	Glenn Ellison; Drew Fudenberg
发表日期	2003-03-03
出版年	2003
语种	英语
摘要	This paper studies whether agents must agglomerate at a single location in a class of models of two-sided interaction. In these models there is an increasing returns effect that favors agglomeration, but also a crowding or market-impact effect that makes agents prefer to be in a market with fewer agents of their own type. We show that such models do not tip in the way the term is commonly used. Instead, they have a broad plateau of equilibria with two active markets, and tipping occurs only when one market is below a critical size threshold. Our assumptions are fairly weak, and are satisfied in Krugman's [1991b] model of labor market pooling, a heterogeneous-agent version of Pagano's [1989] asset market model, and Ellison, Fudenberg and Mobius's [2002] model of competing auctions.
主题	Regional and Urban Economics ; Regional Economics ; Financial Economics ; Financial Markets
URL	https://www.nber.org/papers/w9528
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/567148
推荐引用方式 GB/T 7714	Glenn Ellison,Drew Fudenberg. Knife Edge of Plateau: When Do Market Models Tip?. 2003.