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Equilibrium in the Assignment Market under Budget Constraints

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Listed:
  • Gerard van der Laan
  • Dolf Talman
  • Zaifu Yang

Abstract

We reexamine the well-known assignment market model in a more general and more practical environment where agents may be financially con- strained. These constraints will be shown to have an important impact on the set of Walrasian equilibria. We prove that a price adjustment process will ei- ther find a unique minimal Walrasian equilibrium price vector, or exclusively validate the nonexistence of equilibrium.

Suggested Citation

  • Gerard van der Laan & Dolf Talman & Zaifu Yang, 2018. "Equilibrium in the Assignment Market under Budget Constraints," Discussion Papers 18/17, Department of Economics, University of York.
    • Handle: RePEc:yor:yorken:18/17
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    References listed on IDEAS

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    Cited by:

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