Comment on Mclennan and Sonnenschein
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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|Date of creation:||01 Jan 1998|
|Date of revision:|
|Publication status:||Published in Econometrica 1998, vol. 66, pp. 1231-1233|
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