Matching and bargaining models of markets: approximating small markets by large markets
نویسنده
چکیده
We show that the equilibrium of a matching and bargaining model of a market in which there is a ®nite number of agents at each date need not be near the equilibrium of a market with a continuum of agents, although matching probabilities are the same in both markets. Holding the matching process ®xed, as the ®nite market becomes large its equilibrium approaches the equilibrium of its continuum limit.
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تاریخ انتشار 1997