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Independent random matching

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  • Konrad Podczeck

    ()

  • Daniela Puzzello

    ()

Abstract

Random matching models with a continuum population are widely used in economics to study environments where agents interact in small coalitions. This paper provides foundations to such models. In particular, the paper establishes an existence result for random matchings that are universal in the sense that certain desirable properties are satisfied for any assignment of types to agents. The result applies to infinitely many types of agents, thus covering random matching models which are currently used in the literature without a foundation. Furthermore, the paper provides conditions guaranteeing uniqueness of random matching.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s00199-010-0584-4
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 50 (2012)
Issue (Month): 1 (May)
Pages: 1-29

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Handle: RePEc:spr:joecth:v:50:y:2012:i:1:p:1-29

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Related research

Keywords: Random matching; Involution; Independence; Continuum population; Fubini extension; C00; C02; C73; C78;

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References

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  1. Alos-Ferrer, C., 1998. "Dynamic Systems with a Continuum of Randomly Matched Agents," Papers 9801, Washington St. Louis - School of Business and Political Economy.
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Citations

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Cited by:
  1. Ben Lester & Braz Camargo, 2010. "Trading Dynamics in Decentralized Markets with Adverse Selection," 2010 Meeting Papers 488, Society for Economic Dynamics.
  2. Mihaela Schaar & Jie Xu & William Zame, 2013. "Efficient online exchange via fiat money," Economic Theory, Springer, vol. 54(2), pages 211-248, October.
  3. Lee, Manjong, 2013. "Coexistence and welfare cost of inflation," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 23-32.
  4. C. Mendolicchio & D. Paolini & T. Pietra, 2010. "Investments in education and welfare in a two-sector, random matching economy," Working Papers 702, Dipartimento Scienze Economiche, Universita' di Bologna.

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