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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.

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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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  17. Zhu, Tao, 2003. "Existence of a monetary steady state in a matching model: indivisible money," Journal of Economic Theory, Elsevier, vol. 112(2), pages 307-324, October.
  18. Charalambos Aliprantis & Gabriele Camera & Daniela Puzzello, 2006. "Matching and anonymity," Economic Theory, Springer, vol. 29(2), pages 415-432, October.
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Cited by:
  1. Jie Xu & Mihaela van der Schaar & William Zame, 2013. "Efficient Online Exchange via Fiat Money," EIEF Working Papers Series 1315, Einaudi Institute for Economics and Finance (EIEF), revised May 2013.
  2. Mendolicchio, Concetta & Paolini, Dimitri & Pietra, Tito, 2012. "Investments in education and welfare in a two-sector, random matching economy," Journal of Mathematical Economics, Elsevier, vol. 48(6), pages 367-385.
  3. Ben Lester & Braz Camargo, 2010. "Trading Dynamics in Decentralized Markets with Adverse Selection," 2010 Meeting Papers 488, Society for Economic Dynamics.
  4. Lee, Manjong, 2013. "Coexistence and welfare cost of inflation," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 23-32.

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