Weill, Pierre-Olivier; Lester, Benjamin; Hugonnier, Julien - Society for Economic Dynamics - SED - 2014
We consider a decentralized market for an asset (or durable good) where the valuations of the agents in the market are heterogeneous and drawn from a continuous distribution. Agents can hold either zero or one unit of the asset, and they choose whether or not to search for a trading partner,...