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The Structure of Equilibria in Trading Networks with Frictions

Schlegel, J. C. ORCID: 0000-0002-8385-8349 (2021). The Structure of Equilibria in Trading Networks with Frictions. Theoretical Economics,

Abstract

Several structural results for the set of competitive equilibria in trading networks with frictions are established: The lattice theorem, the rural hospitals theorem, the existence of side-optimal equilibria, and a group-incentive-compatibility result hold with imperfectly transferable utility and in the presence of frictions. While our results are developed in a trading network model, they also imply analogous (and new) results for exchange economies with combinatorial demand and for two-sided matching markets with transfers.

Publication Type: Article
Additional Information: This article will be published in Theoretical Economics. Copyright: The Author.
Publisher Keywords: Trading Networks; Full Substitutability; Imperfectly Transfer-able Utility; Competitive Equilibrium; Indivisible Goods; Frictions; Lattice;Rural Hospitals
Subjects: H Social Sciences > HB Economic Theory
Departments: School of Arts & Social Sciences > Economics
Date available in CRO: 14 Jul 2021 09:34
Date deposited: 14 July 2021
Date of acceptance: 10 July 2021
Date of first online publication: 23 August 2018
URI: https://openaccess.city.ac.uk/id/eprint/26430
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