Independent random matching
نویسندگان
چکیده
منابع مشابه
Existence of Independent Random Matching
This paper shows the existence of independent randommatching of a large (continuum) population in both static and dynamic systems, which has been popular in the economics and genetics literatures. We construct a joint agent-probability space, and randomized mutation, partial matching, and match-induced type-changing functions that satisfy appropriate independence conditions. The proofs are achi...
متن کاملThe exact law of large numbers for independent random matching
This paper provides micro-foundations for independent random matching of a large population, as widely used in the economics literature. We consider both static and dynamic systems with random mutation, partial matching arising from search, and type changes induced by matching. Under independence assumptions at each randomization step, we show that there is an almost-sure constant cross-section...
متن کاملExistence of Independent Random Matching by Darrell Duffie
This paper shows the existence of independent random matching of a large (continuum) population in both static and dynamic systems, which has been popular in the economics and genetics literatures. We construct a joint agent-probability space, and randomized mutation, partial matching and match-induced type-changing functions that satisfy appropriate independence conditions. The proofs are achi...
متن کاملDynamic directed random matching
We develop a general and unified model in which a continuum of agents conduct directed random searches for counterparties. Our results provide the first probabilistic foundation for static and dynamic models of directed search (including the matching-function approach) that are common in search-based models of financial markets, monetary theory, and labor economics. The agents’ types are shown ...
متن کاملContinuous Time Random Matching
We show the existence of independent random matching of a large population in a continuous-time dynamical system, where the matching intensities could be general nonnegative jointly continuous functions on the space of type distributions and the time line. In particular, we construct a continuum of independent continuous-time Markov processes that is derived from random mutation, random matchin...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2010
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-010-0584-4