Hurkens, Sjaak; Vulkan, Nir - Departament d'Economia i Història Econòmica, … - 2006
stationary equilibrium configurations. Traders with longer deadlines fare better than traders with short deadlines. It is shown … that the heterogeneity of deadlines may cause delay. It is then shown that a centralized mechanism that controls the … mechanism is not as good for traders with long deadlines, it is shown that in a model where all traders can choose which …