English, Article, Journal or magazine article edition: The Rate of Convergence to Perfect Competition of a Simple Matching and Bargaining Mechanism Shneyerov, Art; Wong, Adam Chi Leung

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/39816
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Rate of Convergence to Perfect Competition of a Simple Matching and Bargaining Mechanism
Author
  • Shneyerov, Art
  • Wong, Adam Chi Leung
Physical Description
  • preprint
Notes
  • We study the steady-state of a market with inflowing cohorts of buyers and sellers who are randomly matched pairwise and bargain under private information. Two bargaining protocols are considered: take-it-or-leave-it offering and the double auction. There are frictions due to costly search and time discounting, parameterized by a single number t > 0 proportional to the waiting time until the next meeting. We study the efficiency of these mechanisms as the frictions are removed, i.e. t 0. We find that all equilibria of the take-it-or-leave-it offering mechanism converge to the Walrasian limit, at the fastest possible rate O(t) among all bargaining mechanisms. For the double auction mechanism, we find that there are equilibria that converge at the linear rate, those that converge at a slower rate or even not converge at all.
  • Matching and Bargaining, Search, Double Auctions, Foundations for Perfect Competition, Rate of Convergence
  • RePEc:ubc:pmicro:shneyerov-07-05-01-03-43-25
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment