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The structure of equilibria in trading networks with frictions

Jan Christoph Schlegel
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.
Year of publication:
2022
Authors: Schlegel, Jan Christoph
Published in:
Theoretical economics : TE ; an open access journal in economic theory. - Toronto : [Verlag nicht ermittelbar], ISSN 1555-7561, ZDB-ID 2220447-7. - Vol. 17.2022, 2, p. 801-839
Subject: Trading Networks | Full Substitutability | Imperfectly Transferable Utility | Competitive Equilibrium | Indivisible Goods | Frictions | Lattice | Rural Hospitals | Gleichgewichtstheorie | Equilibrium theory | Unvollkommener Markt | Incomplete market
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