Two important articles in the literature on decentralized strategic markets are Gale (1986) and McLennan and Sonnenschein (1991). McLennan and Sonnenschein (1991) claim to have generalized Gale (1986) in several respects. In doing so, they introduce mainly two modifications: 1. unbounded short sales are allowed, and 2. agents do not observe their trading partner's characteristics.
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number
5099.
Length: Date of creation: 01 Mar 2002 Date of revision: Publication status: Published in Econometrica, 1998, Vol. 66, pp. 1231-1233. Handle: RePEc:isu:genres:5099
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