Buyer’s equilibrium with capacity constraints and restricted mobility: A recursive approach
2013
Camera, Gabriele | Kim, Jaehong
We study a decentralized trading model as in Peters (1984a), where heterogeneous market participants face a trade-off between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium, based on a recursive approach that exploits the monotonicity of matching functions.
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