A Walrasian Rubinstein and Wolinsky model

Artyom Shneyerov

Economics Letters, 2014, vol. 124, issue 2, 314-317

Abstract: We provide a full dynamic analysis of a continuous-time variant of Rubinstein and Wolinsky (1985) matching and bargaining model with unbalanced flows of buyers and sellers. The focus is on the price limit as the frictions of search are removed. It is found that a necessary and sufficient condition for the limit price to be Walrasian at all times is the alignment of the initial buyer and seller stocks with the flows.

Keywords: Dynamic matching and bargaining; Convergence to perfect competition; Search frictions (search for similar items in EconPapers)
JEL-codes: D82 D83 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S016517651400216X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:124:y:2014:i:2:p:314-317

DOI: 10.1016/j.econlet.2014.06.005

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().